🗞 Bitcoin Spot ETF postponed? What to do NOW
👋 Hi crypto enthusiasts and fellow investors!
In this week’s edition, we unravel some significant market trends and upcoming opportunities, ensuring that you are well-informed and prepared to make strategic investment decisions.
The information provided in this newsletter is for educational and informational purposes only and should not be considered as financial advice.
SEC’s Latest Bitcoin Spot ETF Decision
This week the SEC postponed the approval of several Bitcoin Spot ETFs. At first glance, this might seem like a setback. However, the negligible market reaction underscores a widespread belief that this delay is a precursor to eventual approval, slated for early 2024.
Congress Supports Crypto
In an unexpected turn of events, members of the congress have voiced their concerns about Gary Gensler’s approach towards the crypto economy. A letter highlighting these concerns and advocating for a more supportive stance towards digital currencies marks a pivotal moment in the ongoing conversation.
For a more detailed insight, watch this video, where Congress holds Gensler accountable, illuminating the heated atmosphere and the intense scrutiny faced by the SEC chairman. Click here to watch the video and see Gary get grilled 😬
Ethereum Futures ETF
While the excitement around the Bitcoin Spot ETF still reverberates in the crypto community, we need to turn our attention to another significant event: the approval of a Ethereum Futures ETF. Originally scheduled to launch on 12 October, and amid rumours of accelerated approval due to the looming US debt ceiling shutdown, the crypto world was buzzing with anticipation.
Today, we received confirmation that Valkyrie will indeed offer an Ethereum Futures ETF. This approval is not just another piece of news, but a huge step forward. Until now, Ethereum has not been as easily accessible to institutional investors as Bitcoin, which has numerous entry and exit points!
This new access to Ethereum via a futures ETF is likely to trigger a price increase in the next weeks.
Your Next Move
If you share my optimism and believe in the potential of cryptocurrencies, now might be the opportune moment to consider an investment. Whether you’re looking to invest lump sum or in tranches, the key is to align your investment strategy with your financial goals and risk tolerance.
If you’re wondering if you should buy all at once or buy in multiple small investments, here is your answer:
Most people already know, I already positioned myself in Bitcoin last year, but if you haven't, it's about time. What exactly are you waiting for? I'll be positioning myself even more in Ethereum, I'll share more on CryptoExplorer Pro.
In Closing
While I anticipate significant price action in 2024, the current developments indicate a potential acceleration in market momentum. As always, I’m here to provide you with insightful, timely, and actionable information to guide your investment decisions.
If you want to learn even more, make sure to join CryptoExplorer Pro!
Wishing you a fantastic weekend!
Cheers,
Stefan
Co-Founder of CryptoExplorer