This year 2024 has been more on the exchange-traded funds and we have already got the good news for the spot etf approval by the Security and Exchange Commission in the US. It was done in America and following this many other countries are also trying to follow the same trend and it could be because they are expecting some great value addition this way. Blackrock which is the world's biggest asset management company is involved with spot etf which means that Bitcoin etf is very big and that is why these big asset management companies are trying to have their presence so that they can make good money out of it.
Currently, spot ETF is not available for retail investors in us however it is expected that this option should also be available soon and once that happens then we can expect more money inflow from the retail investors. Now security and Exchange Commission in Hong Kong has also given the go-ahead for a spot etf launch for Bitcoin and ethereum. I think it is big news, especially for Ethereum because this is already in process and the outcome is expected to happen in May. Coming to this type of news from Hong Kong is a big update and maybe if the SEC follows this then we are also going to have the spot ETF approval for Ethereum.
We are already heading towards the Bull Run situation in the crypto market and these small updates can turn out to be even bigger and the impact can be seen in the market where more money inflow will be happening taking the prices for Bitcoin and methane forward. More demand is getting created for crypto in the market this way and because this is a legit way anyone would be able to invest without any hesitation since big asset management companies are involved and this is a legit way to invest on Bitcoin and other cryptocurrency.
I hope the momentum continues the same way and it will not be a surprise if the upcoming bull run market cycle starts because of the spot ETF however there will be many more things on the way that will keep it forward and it will also bring more money inflow in the Crypto market. Experts are anticipating that this bulletin cycle is going to be the biggest one and we need to be ready for that so that we can reap the benefits of this upcoming opportunity this year or maybe next year.
Thank you so much for stopping by and if you like my content, please vote and share your thoughts in the comments section.
10% beneficiary to Tron-fan-club