Bitcoin Rises to $37,000 as Bitcoin ETF Token Accumulates $140,000, Emerging as a Top BTC Contender

bitcoin price has hit $37,000, offsetting all losses suffered since TerraUSD imploded 18 months ago, but informed traders think bitcoin ETF Token ($BTCETF) is a bitcoin alternative with greater potential.

The ICO of the new cryptocurrency bitcoin ETF Token is only a few days old. However, he has raised $183,000 from investors due to his bold pitch on the lucrative bitcoin ETF issue underpinning the current cryptocurrency rally. $BTCETF is also attracting attention due to its DeFi attributes.

Cryptocurrencies are seeing the return of animal spirits as speculative flows return to the market. Energizing bitcoin and the broader cryptocurrency bull run are factors such as the pause or ending of the Federal Reserve’s interest rate hike cycle and the prospect of a spot launch of a bitcoin ETF.

Also encouraging traders to re-enter the market is the situation in other asset classes, particularly stocks, where last year’s rally has returned just 10%. At the same time, the price of bitcoin has more than doubled, up 127% over the same period.

Indicative of the end of the so-called crypto winter is the positive funding rate in the perpetual futures market for bitcoin and the increase in yields offered in the decentralized finance (DeFi) space.

In recent weeks, the bitcoin perpetual futures funding rate on an open interest-weighted basis has averaged levels last reached in March of this year. A positive funding rate indicates a preponderance of long positions in the market.

Similarly, after the lows last recorded in 2021, the total value locked (TVL) in DeFi protocols has now risen sharply to $44 billion, although it is still some way off the highs of 2021, when the TVL reached 180 billion dollars.

bitcoin ETF Token: A Strategic Investment to Capitalize on the bitcoin ETF Rally and DeFi Resurgence

$BTCETF tokens can be purchased today in pre-sale and staked to earn an annual percentage return that currently stands at 1.584%. Nearly 19 million $BTCETF tokens have already been deposited into the staking smart contract. The APY is dynamic based on the number of tokens staked, and each individual’s rewards are determined by the percentage of the stake pool they own.

To set the lowest price, potential buyers will need to act fast as the current stage ends in less than 48 hours, after which the price increases in Stage 2 of the ICO from $0.0050 to $0.0052. There are ten price stages, ending at $0.0068, 36% above the opening bid price.

The bitcoin ETF token pegs its valuation to the progress of the U.S. Securities and Exchange Commission’s (SEC) approval process for the bitcoin Spot ETF, for which a minimum eight-day window opened on Thursday. During this period, the SEC may issue an approval order.

According bitcoin-trades-past-36-000-on-possible-etf-investment-approval”>Bloomberg Intelligence Analysts James Seyffart and Eric Balchunas, the SEC could “theoretically issue approval orders.” There are 12 bitcoin spot ETFs awaiting approval.

The pair also added in their note to clients that even if the eight-day window is a long shot, they maintain their previously stated position that there is still a 90% chance of approval on January 10, when the ARK bitcoin ETF 21 Shares comes up for consideration.

Anticipate a Price Surge: Stand with bitcoin ETF Token Amid Grayscale Conversion Discussions

The possibility of a timely approval of the bitcoin ETF before the January 10 deadline for the ARK 21 Shares bitcoin ETF was initially not considered very likely.

However, a parallel process related to Grayscale bitcoin Trust’s (GBTC) attempt to become an ETF has stirred the pot. The opportunity to position portfolios for the next price explosion is shrinking as a constellation of events adds to the FOMO.

Yesterday, a report appeared in the media claiming that the SEC had begun talks with Grayscale regarding its application to convert its closed-end trust to an open-end ETF.

The crucial difference between the two is that investors can redeem funds in an ETF without affecting the price. Closed-end funds like Grayscale bitcoin Trust have a fixed number of shares that are traded on the open market and their value changes with supply and demand.

Closed-end trusts trade at a discount or premium to their net asset value. In the case of GBTC, it went from trading at a premium during the bull market to trading at a discount today, meaning the value of the shares is less than the value of the bitcoin held by the trust.

Let’s say GBTC is approved for conversion to an ETF. In that case, the redemption of shares will be less problematic because the ETF shares can only be resold to the issuer: the shares are created or liquidated depending on the fluctuation of demand, and the price of the ETF is fixed at the end of each day.

Another disadvantage of GBTC is that it must be purchased over-the-counter and therefore excludes investors of modest means, limiting its buyer profile to institutions.

So far, the product application that has been most closely followed, aside from the ARK 21 Shares ETF due to its front-of-the-queue position, is the iShares bitcoin Trust ETF because it is issued by the world’s largest asset manager, BlackRock. .

bitcoin ETF Token: Double Appeal for Speculators and Long-Term Investors in Anticipation of a Transformation of the bitcoin Spot ETF Market

Whichever spot bitcoin ETF hits the market first, the entry of a spot instrument will have a seismic impact on the market. The US ETF market is valued at around $7 trillion, and considering the impact of the introduction of a gold ETF, a bitcoin spot ETF will be transformative.

Retail and institutional market participants will have a regulated route to gain exposure, while the issuer of the funds will need to purchase bitcoin on the open market to maintain their funds.

With only a limited amount of bitcoin in circulation and demand set to explode, there’s no telling where the price could end up as the bull market progresses.

The bulls are also well aware of the bitcoin halving event taking place in April of next year and how this quadrennial reduction in rewards paid to miners for block production has ushered in a rally towards new maximums.

For all of the reasons above, it makes sense that a growing number of higher-risk traders are taking advantage of long positions in bitcoin. Depositing into DeFi lending protocols to access leverage is the source of the increased returns now offered in the space.

In this very positive market setup, the bitcoin ETF token staking returns make it an attractive proposition for DeFi players. bitcoin ETF Token is also a lower risk, higher reward proposition, attractive to speculative hot money traders and long-term investors.

Instead of the source of returns being stablecoin depositors in lending protocols, bitcoin ETF Token allocates a percentage of its token supply to paying out rewards, thereby reducing the risks associated with yield farming.

Recording feature links the value of the $BTCETF token to the actual movements of the bitcoin Spot ETF for direct profits to the holder

The story doesn’t end there: the bitcoin ETF Token also has a deflationary burning mechanism that supports the price because it reduces the total supply of tokens.

bitcoin ETF Token launches with a 5% burn on all transactions. Up to 25% of the total token supply can be burned.

Cleverly, the burn mechanism is linked to real-world events related to the bitcoin ETF timely news flow, where milestones such as approval and launch dates and the level of assets under management (AUM) trigger burn events.

For example, when the trading volume of $BTCETF reaches $100 million, the transaction tax is reduced from 5% to 4%. There are other smart milestones, like when the first bitcoin spot ETF is approved, the sales tax is reduced from 4% to 3%.

$BTCETF is the perfect vehicle to help you position your portfolio to profit from the FOMO bitcoin Spot ETF.

bitcoin ETF Token has a total supply of 2.1 billion (2,100,000,000). The project website has a useful newsfeed to keep you up to date with all news related to bitcoin ETFs and bitcoin price.

The $BTCETF token is probably one of the smartest and cheapest ways to capture the alpha returns promised by launching a bitcoin spot ETF. The token is on pre-sale today and is only $0.005. There is a total low cap of $4,956 billion, which adds to the FOMO.

Read our guide to find out how to buy bitcoin ETF tokens.