VanEck, a prominent ETF issuer, anticipates that the U.S. will approve a long-awaited spot bitcoin ETF in early 2024, and it expects the product to attract billions in inflows during the first few months following approval. The firm predicts that more than $2.4 billion will flow into newly approved U.S. spot bitcoin ETFs in the first quarter of 2024, helping to support the price of bitcoin.
VanEck Predicts 2.4 Billion into Spot BTC ETFs
ETF Newz Says:
While the Securities and Exchange Commission (SEC) has approved ETFs tracking bitcoin and ether futures, it has only recently begun advancing filings for physically backed bitcoin ETFs. VanEck, one of the first firms to file for a spot bitcoin ETF in 2018, is among those awaiting approval.