December 19, 2023 –
NitroBetting.eua prominent bitcoin-only sportsbook, just launched the first of its kind bitcoin-props/?ref=btcprops”>bitcoin Spot ETF Betting Lines. The new prediction market focuses on the possible SEC approval date for the spot ETF, as well as speculation about which ETF sponsor will be the first to receive approval. Based on published odds, the market believes that the SEC will most likely approve a btc Spot ETF before 01/10/2024, with odds of -1667 in favor and +650 against.
Regarding ETF sponsors, at the time of writing, simultaneous approval of multiple applicants is the most favored scenario (-250), with Blackrock leading the pack as the most favored for independent approval (+120). Of all potential Spot ETF sponsors, Wisdomtree (+2900) and Invesco (+2900) are the least favored by betting line participants according to Nitrobetting. bitcoin-props/?ref=btcprops”>website:
While the bitcoin market has seemingly reacted positively to the possible approval of a spot ETF (currently trading around the $42,000 price level), it remains to be seen if the optimism is justified. The new Spot ETF Prediction Market can help provide greater clarity to investors.
In a statement sent to bitcoin Magazine, Nitrobetting.eu said the following: “Amidst the anticipation of the approval of the Spot ETF in the US, Nitrobetting is delighted to offer the first betting lines for this event, inviting players to join in and have some fun at this historic moment.
With over 10 years in bitcoin gaming, we are at the forefront of this financial evolution. This is more than gambling; “It is a celebration of bitcoin’s integration into the mainstream and a milestone for the entire community.”
Interested participants can view the available bitcoin betting lines on the bitcoin-props/?ref=btcprops”>Nitrobets website. The lines include Spot ETF bets, 2024 halving price predictions, bitcoin dominance, and bitcoin legal tender predictions.
Disclaimer: Nitrobetting is a sponsor of bitcoin Magazine “The Challenge of Halving bitcoin“a contest for participants to guess the price of bitcoin at the 2024 halving for a chance to win a share of 1 btc in prizes.
