Nor is it certain that the emergence of these exchange-traded funds will lead to an increase in the value of VTS.
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Antoni Trenchev: “Don’t get your hopes up too high on bitcoin growth and ETF approval”
Antoni Trenchev is confident: for the most part, the rise in the price of the first cryptocurrency is due to investors anticipating the likely approval of bitcoin-ETFs by the U.S. Securities and Exchange Commission (SEC). This has already been seen since the first ETF for bitcoin futures was approved in 2021 and saw a rapid 87% decline in the asset’s value: the co-founder of Nexo noted.
A market expert recalled bitcoin’s tendency to reverse after breaking significant price levels