The increasing adoption of Bitcoin by financial institutions has been a topic of great interest in the crypto community. Recently, major investment firms such as BlackRock, Invesco, and Wisdomtree filed applications with the United States Securities and Exchange Commission (SEC) to launch spot Bitcoin ETFs. This week, we received exclusive information that Fidelity has also submitted an application to launch its own Bitcoin spot ETF. In this interview, we spoke with Jaime Merino, known as @TradingLatino, to find out his perspective on the approval of ETFs by the SEC and the possible impact on the Bitcoin market, also considering that we are less than a year away from Halving.
Will the SEC approve Bitcoin ETFs?: Jaime Merino responds.
Crypto report: What is your opinion on the filing of applications for Bitcoin spot ETFs by large companies such as BlackRock, Invesco, Wisdomtree and Fidelity?
Jamie Merino: It’s already planned between those who apply and those who receive it, sooner or later they have to approve them, since they are finding out a little late about the business, and obviously want their piece of the pie.
Crypto report: Do you think the SEC will approve Bitcoin ETFs this time around? Which of them do you think have the best chance of being approved?
Jamie Merino: I believe that they will only be approved when they have the business structure to provide liquidity to those potential investors. Everything is already part of a business plan where the one with the best contact within the traditional legal framework will be approved.
Crypto report: Should Bitcoin ETFs be approved, how do you think this would impact the Bitcoin market? Could we expect a new bull run?
Jamie Merino: In fact yes, I I expect bitcoin to be over $135,000 by December 2024 which coincidentally coincides with the deadlines they have to approve them.
Crypto report: Taking into account that we are less than a year away from the Bitcoin Halving, do you think that the approval of the ETFs could accelerate the bullish momentum of Bitcoin?
Jamie Merino: If those spot ETFs were approved, the 135 thousand I mention would fall short of the bitcoin market and some cryptos such as BCH, LTC, ETH and BTC.
Crypto report: What recommendations would you give to investors interested in participating in the Bitcoin market, considering the possible impact of ETFs and the approaching Halving?
jamie merino: The probability of losing in bitcoin after it has fallen from 69 thousand dollars to 15 thousand is quite low for investors with large capital, it is only a matter of time to see bitcoin breaking all-time highs, therefore it goes down more we buy more.
We are very grateful to Jaime for giving us his opinion regarding Bitcoin ETFs and their possible impact on the cryptocurrency market, once again it is a pleasure to have the opinion of experts like him in our news journal.
The filing of applications for Bitcoin ETFs by large companies such as BlackRock, Invesco, Wisdomtree and Fidelity has generated renewed institutional interest in Bitcoin. There is palpable optimism in the crypto community about the approval of these ETFs by the SEC. According to the opinions of Jaime Merino, known as @TradingLatino, it is expected that the SEC will finally approve Bitcoin ETFs, as companies are entering the game late and want to get their “piece of the pie”. However, Merino emphasizes that the approval will depend on the business structure and the ability to provide liquidity to investors.
As for the possible impact on the Bitcoin market, Merino suggests that if approved, we could see a new bull run, with Bitcoin surpassing $135,000 by December 2024, which coincides with the deadline dates for the approval of the ETF’s.
Bitcoin’s upcoming halving is also seen as a factor that could fuel Bitcoin’s bullish momentum. According to Merino, if the spot ETFs are approved, the $135,000 mentioned above could fall short, not only for Bitcoin, but also for other cryptocurrencies such as BCH, LTC, ETH, and BTC.
For investors interested in participating in the Bitcoin market, Merino suggests that the probability of loss is low, especially for those with large capitals. He recommends taking advantage of buying opportunities while Bitcoin is in a correction phase, as it is only a matter of time before it breaks new all-time highs.
In summary, the possible approval of Bitcoin ETFs by the SEC and the upcoming Halving generate an optimistic outlook for the Bitcoin market. The opinion of experts like Jaime Merino provides a valuable perspective on the expectations and recommendations for investors interested in this exciting cryptocurrency market.