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The emergence of BlackRock’s ethereum ETF plans has pushed the price of eth past the $2,000 mark and injected even more FOMO into the race to invest in the bitcoin ETF Token ($BTCETF).
Meanwhile, bitcoin is trading at $37,400, with bulls targeting $40,000 well before the month is out, while the bitcoin ETF token has already attracted $271,000 from eager investors.
BlackRock is the largest asset manager in the financial industry and others follow where it goes. The financial giant has already submitted its application for a spot bitcoin ETF. Now it has emerged, following the registration of a corporation in Delaware called iShares ethereum Trust, that it also wants to bring an ethereum spot ETF to the market.
Late yesterday, Nasdaq filed a listing for the iShares ethereum Trust, confirming the news from BlackRock. iShares is the brand of BlackRock’s ETF business.
To understand why everyone in the cryptocurrency world is so excited about the possibility of a spot ETF, be it bitcoin or ethereum, the US ETF market is valued at around $7 trillion. By comparison, the total US stock market is $44 trillion.
There are already exchange-traded funds for crypto assets. However, in the US, they are limited to the regulated futures market, where funds like the ProShares bitcoin Strategy ETF (BITO) dominate.
A spot product would provide retail and institutional investors direct exposure to bitcoin in a way that futures do not offer. ETFs will provide all types of investors with easy and cheap exposure to bitcoin (and ethereum) using a regulated vehicle. Analysts hope the approval of ETFs will open the floodgates of new money entering the asset class.
Growing FOMO among bitcoin ETF token buyers
The rate of rise of the bitcoin ETF token for the ICO is accelerating against the backdrop of growing excitement and anticipation for the launch of the first fund on January 10, or possibly even earlier after an eight-day window opened for the approval of the application earlier this week.
The US Securities and Exchange Commission could choose to approve the 12 bitcoin spot ETFs that have submitted applications, although that is probably unlikely.
However, Bloomberg Intelligence analysts believe there is a 90% chance that a spot bitcoin ETF will be approved before the January 10 deadline for the ARK 21 Shares bitcoin ETF. No wonder bitcoin ETF FOMO is reaching a fever pitch.
Looking for a profitable investment in ethereum and bitcoin ETFs? Discover the newly launched bitcoin ETF token
$BTCETF tokens can be pre-purchased today and staked to earn an Annual Percentage Yield (APY) currently at 939%. Thirty million $BTCETF tokens have been deposited into the staking smart contract. Because the APY is calculated dynamically, it will vary depending on the amount wagered. Furthermore, each individual’s rewards depend on the proportion of their betting pool.
Rewards are paid in $BTCETF over five years. Each eth block produced generates a reward of 119 $BTCETF.
Stage 1 of the ICO ends in less than 24 hours, after which the price of $BTCETF increases in stage 2 from $0.0050 to $0.0052. There are ten price stages, ending at $0.0068, 36% above the initial offer price.
bitcoin ETF Token is designed to link its economics to the launch and subsequent traction achieved by the bitcoin Spot ETF.
With anticipation of the approval of a spot bitcoin ETF seen as a catalyst for new crypto highs, investors are eager to acquire bitcoin ETF tokens
The entry of a spot crypto collective investment vehicle will unleash a torrent of billions of dollars flooding the market. The US ETF market is valued at $7 trillion when equities and fixed income are combined.
The first asset class to receive ETF treatment was commodities like gold. Before ETFs came along, gold was a difficult asset for retail investors to get exposure to. There were liquidity and custody issues to resolve, which meant that the bullion market remained the exclusive domain of institutions and the government.
The first gold ETF was launched in 2003 and the exchange-traded fund industry hasn’t looked back.
A bitcoin ETF and an ethereum ETF could have an equally large effect on the financial markets, and that’s why investors are flocking to buy the bitcoin ETF token. If the launch of a gold ETF was anything to go by, a spot bitcoin ETF would be transformative.
crypto spot ETFs will, in one fell swoop, provide retail and institutional market participants with a regulated way to gain exposure to the asset class without having to own bitcoin or ethereum directly.
The closing of the SEC approval window creates a 90% chance for January 10, 2024, according to #Bloomberg.
As btc?src=hash&ref_src=twsrc%5Etfw”>#btc is close to $36,000, the #CryptoCommunity anticipates a possible game changer.
Besides that #BitcoinETF It has also reached another milestone, raising over $200K! pic.twitter.com/KWoDWm5pF1
– BTCETF_Token (@BTCETF_Token) November 10, 2023
With only a limited number of bitcoins in circulation and demand set to skyrocket, the sky is the limit on how high the price of crypto assets could go.
Add in the bitcoin block reward halving in the ETF issue in April 2024, and we could be on the threshold of the biggest bitcoin bull run in history.
Coupled with the tailwind of ETFs, bitcoin ETF Token makes betting easy, making it an attractive proposition in the search for yield. Although yields are rising in the fixed income bond world, they do not match the heady brew offered by bitcoin ETF Token, where the APY still sits in the hundreds of percent.
Additionally, the risks associated with yield farming are not present in the bitcoin ETF token ecosystem, as the source of the yield is the tokens allocated from the supply specifically to distribute rewards.
$BTCETF features deflationary burning mechanism tied to key milestones in real-world bitcoin ETF approval, launch, and performance
The bitcoin ETF token is deflationary: it has a burning mechanism that supports prices because it reduces the total supply of tokens.
At launch, the bitcoin ETF token will have a 5% burn on all transactions, while up to 25% of the total token supply is eligible for burning.
All events in the recording mechanism are triggered by real-world events related to bitcoin ETF milestones, such as first approval and launch dates, among other things.
There are also triggers related to the performance of the $BTCETF token. For example, when the trading volume of $BTCETF reaches $100 million, the transaction tax is reduced from 5% to 4%. Other milestones include the approval date of the first bitcoin spot ETF, at which point the sales tax is reduced from 4% to 3%.
crypto YouTuber Micheal Wrubel, with 310,000 subscribers, is very bullish on $BTCETF, as he explains in his video from the previous day, which has already racked up 20,000 views:
With 235,000 subscribers on YouTube, Austin Hilton is another fan of $BTCETF. He tells the audience of him that $BTCETF is like nothing you’ve ever seen while encouraging its viewers to discover more.
Thoughtful design decisions are made to maximize FOMO and returns for token holders as the crypto ETF frenzy increases.
Suppose you want to position your investment portfolio to benefit from the next cryptocurrency price explosion before the rest of the crowd. In that case, buying bitcoin ETF tokens is the best opportunity today.
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