Recently, Gabor Gurbacs, an advisor at Tether and the renowned investment management firm VanEck, has shared his perspective, offering a long-term bullish stance on the potential impact of a spot Bitcoin exchange-traded funds (ETFs) launch in the US.

This view particularly counters the common tendency of people’s short-term outlook of the impact of spot BTC ETF and not the long-term. Gurbacs noted as Gurbacs stated:

People tend to hype the current thing but remain myopic about the big picture.

Gurbacs emphasized that while the introduction of spot Bitcoin ETFs is often surrounded by short-term speculation, their real value lies in their long-term influence.

The advisor of VanEck suggested that initially, the launch of a spot BTC ETFs might result in a net inflow of  $100 million, predominantly comprising reinvested funds from institutional players.

In my view, people tend to overestimate the initial impact of U.S. Bitcoin ETFs. I think maybe a few $100mm flows (mostly recycled) money.

Long term, people tend to underestimate the impact of spot Bitcoin ETFs. If history is any guide, gold is worth studying as a parallel. https://t.co/6vvkA9aC09

— Gabor Gurbacs (@gaborgurbacs) December 31, 2023

Gurbacs’ insights further pointed at a post uploaded earlier last month delving into the deeper implications of a US spot BTC ETF approval. Drawing parallels with gold’s historical financial market trends, Gurbacs suggests that spot BTC ETF approval could potentially unlock trillions of dollars in value over time.

Gold’s Blueprint: A Parallel Path For
Go to Source to See Full Article
Author: Samuel Edyme

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