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The long-awaited pre-sale of the bitcoin ETF token surpassed the $1.3 million mark, highlighting strong demand for speculative exposure to major spot bitcoin ETF developments. Throughout the year, bitcoin has shown resilience, breaking out of bearish conditions and experiencing a notable rally.
A key catalyst for this positive momentum has been progress in bitcoin ETF applications. The launch of the first bitcoin spot ETF in the US is moving closer to reality, accompanied by a proliferation of bitcoin-related financial products seeking to capitalize on its introduction.
In particular, the recently introduced bitcoin ETF token is capturing the attention of traders as they shift their focus towards this bitcoin-pegged alternative. The bitcoin ETF Token initiative allows investors to anticipate approval in advance, featuring a staking utility and burn mechanism tied to the official approval of the bitcoin ETF.
crypto Analyst Anticipates Approval of bitcoin Spot ETF
According to crypto Rover analysis, the approval of the first US bitcoin spot ETF, long awaited by the crypto community, may occur by the end of 2023. In a recent tweet, crypto Rover highlighted the reasons to expect an approval imminent, including the upcoming Ark Invest bitcoin ETF Application deadline and recent legal victories.
There are concerns that legal challenges and accusations of preferential treatment could arise if the SEC were to reject Ark Invest’s application but approve others. Importantly, Grayscale’s legal victory against the SEC in a bitcoin spot ETF lawsuit has bolstered prospects for regulatory approval.
Taking these factors into account, crypto Rover projects that it is very likely that at least one bitcoin spot ETF will receive approval before the Ark Invest deadline, potentially even sooner. The early approval is considered a major milestone as it offers major investment funds and retirement accounts access to bitcoin investments.
Deflationary crypto Riding btc Spot ETF Wave
Amid the prevailing optimism in the cryptosphere, bitcoin ETF Token emerges as a novel project poised to capitalize on the imminent launch of a btc spot ETF.
Distinguishing itself by tying token supply to key milestones in the spot ETF approval process, bitcoin ETF Token establishes a direct correlation between ETF developments and token price dynamics.
This deflationary cryptocurrency plans five token burn events triggered by predetermined milestones tied to the introduction of the first bitcoin Spot ETF. These milestones span the official announcement of the first bitcoin Spot ETF, its launch, $BTCETF surpassing a $100M market cap, and btc reaching the $100K mark.
After each milestone, bitcoin ETF Token will burn 5% of its 2.1 billion token supply. With a total of five milestones in place, a quarter of the token supply is planned to be burned gradually. Additionally, bitcoin ETF Token implements a 5% trading tax, which progressively decreases by 1% after reaching each milestone.
For full details on the bitcoin ETFToken pre-sale update, watch the video above. Subscribe to Jacob crypto Bury Youtube channel for additional crypto-related content. Jacob also runs a Discord server with 17,000 members, offering trading tips and information on upcoming cryptocurrency pre-sales.
bitcoin ETF Token Pre-Sale Gains Strong Momentum, Offering Hefty Staking Rewards
The bitcoin ETF Token project has begun its pre-sale with strong momentum, raising over $1.2 million in the first two weeks. The pre-sale includes ten rounds, offering 40% of the total token supply, with each round delivering 84 million tokens.
@ARKInvest persists in his bid for a position #BitcoinETFpresenting another update for the #ARK 21Share the bitcoin ETF with the #SECOND.
The journey continues!
Do you think we will see a bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin #ETF approved in 2024?#BTCETF It has also raised over $1.2 million! pic.twitter.com/jh06EPQiqU
– BTCETF_Token (@BTCETF_Token) November 20, 2023
The price of the token will increase from $0.005 to $0.0068 over the ten rounds, and is currently priced at $0.0056. Early bird participants can stake $BTCETF to earn significant annual staking returns. Currently, the bitcoin ETF token offers over 185% APY on staking, with over 144 million $BTCETF tokens already staked.
Investors can choose the “Buy and Stake” option on the pre-sale website to directly stake their holdings, which could help bitcoin ETF Token reach its strict pre-sale capitalization target of $4.96 million. Interested investors can visit our guide on how to buy bitcoin ETF tokens here.
Many early supporters believe that $BTCETF could be one of the most promising cryptocurrency offerings this year as it focuses specifically on the bitcoin ETF narrative. To participate in the pre-sale of the $BTCETF token, visit btcetftoken.com.
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