Spot ETF sparks Bitcoin fall: Bull sign or fleeting light?
@JC888：
Wednesday, 10 Jan 2024. It was slightly over 3 weeks ago that the Securities and Exchange Commission (SEC) finally gave the green light for the launch of Spot Bitcoin ETF, after a very drawn out battle with funds houses. Prior to the much anticipated approval, so much written about the possibility of a rocketing Bitcoin price once the Spot Bitcoin ETF is approved. Well, well, well - things have a strange way of turning out. What happened? The launch of 11 Spot Bitcoin ETFs on 11 Jan 2024, was a highly anticipated event, and many expected it to boost Bitcoin's price. However, the price went the other way and has fallen by over -13.5% since the launch. (see above) There are several factors that might have contributed to this price decline: (1) Grayscale Bitcoin Trust (GBTC) - sell off. Grays