Following the SEC’s approval of a spot Bitcoin ETF, crypto market observers are pondering the next major developments. Vance Spencer, CEO of Framework Ventures, highlighted upcoming events that could impact the crypto market, including the Bitcoin block reward halving, a potential spot Ethereum ETF, a resurgence in DeFi, and a possible interest rate cut cycle.
The Bitcoin block reward halving is particularly noteworthy as it has historically triggered significant price surges for the leading cryptocurrency. Meanwhile, author Robert Kiyosaki predicts Bitcoin could reach $150,000, focusing on the halving as a pivotal factor.
However, the anticipated spot Ethereum ETF faces hurdles, with SEC Chairman Gary Gensler viewing Ethereum as a security, unlike Bitcoin, which is classified as a commodity. This classification uncertainty poses a significant obstacle to the approval of a spot Ethereum ETF.
In the DeFi sector, despite challenges like hack attacks, Spencer expects substantial growth in profits and returns. He predicts the sector’s revenue could jump to $1 billion by 2025. Additionally, Spencer anticipates that the Federal Reserve’s pause on interest rate hikes and a potential shift to interest rate cuts in the first half of the year could positively influence the crypto market as a whole.
These developments suggest a transformative period ahead for the crypto market, with the SEC’s recent approval of a spot Bitcoin ETF being just the beginning of a series of significant events that could shape the industry’s trajectory.