The crypto community is on the verge of a historic moment as the approval of a spot Bitcoin ETF seems imminent. Investors are overwhelmingly optimistic, buoyed by recent developments and statements reinforcing the belief that approval is forthcoming. A landmark “we are not tourists” declaration has further fueled this optimism.
If the SEC approves, multiple ETFs could be traded across three exchanges, sparking interesting competition among Spot Bitcoin ETFs. Some issuers are keeping management fees low, while industry giants like BlackRock are more relaxed, banking on their strong brand reputation.
Companies like VanEck are strategizing to stand out in this race by winning over investors and the crypto community. They plan to allocate significant advertising budgets or maintain minimal ETF management fees. VanEck also pledges to donate 5% of their earnings to support core developers and contribute to the growth of the Bitcoin network.
VanEck, a potential ETF issuer, has promised to donate 5% of their profits to Brink, a Bitcoin developer group, if their spot Bitcoin ETF is approved. Their application is one among many awaiting the decision of the U.S. Securities and Exchange Commission.
The approval of ETFs could channel billions of dollars from traditional finance into Bitcoin, potentially leading to a supply crunch on exchanges and significant price surges due to increased demand. Meanwhile, Turkey is yet to confront the anticipated major crypto regulation reforms, and public opinion remains crucial in shaping a crypto-friendly regulatory framework.