Potential Savings of $2 Billion for Investors
With the crypto currency market still hitting a prolonged bear market, there is good news on the horizon as the SEC prepares to approve more Bitcoin Exchange Traded Funds (ETFs). And experts predict that investors could potentially save $2 trillion as a result.
Experts from JPMorgan predict that the SEC will approve these ETFs by Jan. 10, 2024 has arrived, The news is particularly beneficial for companies like Arc Invest and 21Shares.
Lower Fees, Increased Competition Among ETFs
Approving multiple bitcoin ETFs at once would create more competition, especially in terms of price. And lower fees are always beneficial for investors. But the benefits don’t stop there.
The , approval of multiple Bitcoin ETFs could create increased competition and low fees among new ETFs, forcing Grayscale Bitcoin Trust, the world’s largest bitcoin fund, to cut costs adversly increasing its price by upwords of 13% .
So what does all this mean for investors?
Well, the saying goes, “Where there’s smoke, there’s fire.” The fact that the SEC is moving faster to approve more Bitcoin ETFs indicates that interest in the cryptocurrency is growing among investors. And with lower fees and more competition,
Investing in Bitcoin has never been more accessible and mouth wattering as the approval could come a month before Bitcoin`s having cycle.
It’s important to keep an eye on the latest developments. And with more Bitcoin ETFs expected to be approved, now is an attractive time to get in on the action. So what are you waiting for? Invest in the future today!
