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Spot Bitcoin ETF: Fueling the Bitcoin Bounce-back

Boardroom’s resident tech reporter, Michelai Graham, breaks down what a spot Bitcoin ETF is and why it’s the reason Bitcoin is back on the rise.

Bitcoin is back on the rise. Boardroom’s Michelai Graham breaks down why the token is suddenly popular again and how it may hit the stock market in 2024.

♬ original sound – Boardroom

Bitcoin is back over the $40,000 threshold for the first time in nearly two years, and there’s only one reason why: The spot Bitcoin ETF.

The cryptocurrency‘s price has surged in recent months as investors grow more optimistic about the potential approval of a spot Bitcoin exchange-traded fund. A spot Bitcoin ETF is an exchange-traded fund that tracks the price of Bitcoin. When investors buy shares, they are basically buying a portion of the Bitcoin held by the fund. This is the road that leads Bitcoin straight to the stock market.

The ETF would not only expand bitcoin’s market capitalization but also open Bitcoin up to a whole new pool of investors who typically invest in stocks. It could generate $600 billion in new demand and some crypto analysts even think it could lead to a $1 trillion increase in Bitcoin’s market cap.

The Securities and Exchange Commission has the power to green-light spot Bitcoin ETFs, and some crypto-focused funds are already submitting applications to launch them in the near future.

Check out my video for more on how this is driving Bitcoin’s value up.

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About The Author
Michelai Graham
Michelai Graham
Michelai Graham is Boardroom's resident tech and crypto reporter. Before joining 35V, she was a freelance reporter with bylines in AfroTech, HubSpot, The Plug, and Lifewire, to name a few. At Boardroom, Michelai covers Web3, NFTs, crypto, tech, and gaming. Off the clock, you can find her producing her crime podcast, The Point of No Return.