{"id":180155,"date":"2023-08-16T13:39:59","date_gmt":"2023-08-16T13:39:59","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180155"},"modified":"2023-08-16T13:39:59","modified_gmt":"2023-08-16T13:39:59","slug":"spot-bitcoin-etf-approved-but-not-in-the-us","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/spot-bitcoin-etf-approved-but-not-in-the-us\/","title":{"rendered":"Spot Bitcoin ETF approved, but not in the US"},"content":{"rendered":"<p>In the latest episode of Cointelegraph\u2019s\u00a0<em>The Market Report<\/em>, analyst Marcel Pechman discusses the first spot Bitcoin exchange-traded fund (ETF)\u00a0approved in the European Union, which went live on the Euronext Amsterdam exchange on Aug. 15. Despite the seemingly unconventional choice of the Guernsey regulator for its constitution, the fund\u2019s listing on Euronext suggests a strategic maneuver, though its meager 1 million euro launch and unfamiliar management casts a shadow over its appeal.<\/p>\n<p>Moving on, Pechman shifts focus to the United States Bitcoin ETF landscape, where the Securities and Exchange Commission (SEC) has once again delayed its decision on approving a spot Bitcoin (BTC) ETF, setting a potential deadline for early 2024. This recurrent cycle of postponements echoes the challenges faced over the past decade.<\/p>\n<p>The lack of regulatory clarity in the U.S. cryptocurrency market underscores the SEC\u2019s reluctance to endorse a spot crypto ETF.<\/p>\n<p>Pechman also discusses Bitcoin\u2019s price trajectory. According to Bitcoin investor Jesse Myers,\u00a0breaking the $100,000 barrier is intricately tied to the block subsidy halving in mid-2024. Myers challenges the efficient market hypothesis, positing that the market will take 12 to 18 months post-halving to fully assimilate the implications.<\/p>\n<p>Pechman conveys skepticism about predicting market outcomes, acknowledging many factors that can sway Bitcoin\u2019s trajectory, including Federal Reserve decisions, banking liquidity, economic conditions and unforeseen events.<\/p>\n<p>Pechman concludes by circling back to the primary drivers of Bitcoin\u2019s value: the abundance of fiat currency and government debt. He foresees Bitcoin surpassing $100,000, but the real-world purchasing power of that sum might be diminished due to inflation.<\/p>\n<p>Listen to the full episode of <em>The Market Report<\/em>\u00a0on the new\u00a0Cointelegraph Markets &amp; Research YouTube channel, and don\u2019t forget to click \u201cLike\u201d and \u201cSubscribe\u201d to keep up-to-date with all our latest content.<\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/spot-bitcoin-etf-approved\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the latest episode of Cointelegraph\u2019s\u00a0The Market<\/p>\n","protected":false},"author":3,"featured_media":180154,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spot Bitcoin ETF approved, but not in the US - 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