Bloomberg Prediction: Bitcoin ETF Launching in Q4 2024

Bittime - According to the latest predictions from Bloomberg analyst James Seyffart, Bitcoin ETF launch predicted to occur in the fourth quarter of 2024. 

This estimate comes amid a deadline from the Securities and Exchange Commission (SEC) which will deliver its verdict on September 21, 2024. 

However, to continue Bitcoin ETF launch This requires further approval from Options Clearing Corp. and the Commodity Futures Trading Commission (CFTC).

Background and Context of the Bitcoin ETF Launch

Currently, there are many ETFs available, for both Bitcoin and Ethereum, including leveraged options. 

James Seyffart mentioned that there are already 20 ETFs with options available, showing how various Bitcoin and Ethereum related products are already accessible to investors. 

This indicates that the ETF market continues to grow, offering a variety of new investment tools for those looking to take advantage of the volatility and potential profits in the crypto market.

However, not long ago, three small exchanges—BOX Exchange, MIAX Pearl, and Miami International Securities Exchange—withdrew their applications to list spot Bitcoin ETF options. 

Despite this, several large exchanges such as the NYSE, Nasdaq, and CBOE still have pending applications. The SEC had announced in July that it needed more time to review those products.

Read also: Crypto Politics in the US: Crypto PAC Fairshake Throws $25 Million to 18 House Candidates

Potential Impact of Launching a Bitcoin ETF

The launch of a Bitcoin ETF will give investors the right, but not the obligation, to buy or sell the underlying instrument at a predetermined price and date. 

With high profit potential and risk limited by the premium paid for the options, these products are very popular among retail investors who often use them for speculation and short-term strategies.

The launch of this Bitcoin ETF will add to the existing range of investment options, including spot and leveraged ETFs focused on Bitcoin and Ethereum. 

This could strengthen cryptocurrency's position in the traditional investment market, offering more flexibility and strategy for investors.

Future Prospects

Apart from Bitcoin, attention is also focused on Ethereum. On August 7, 2024, Nasdaq and BlackRock applied to regulators to include a spot Ethereum ETF in the iShares Ethereum Trust (ETHA). 

Regulators have 21 days to respond, with a final decision expected to be made on April 9, 2025. This move confirms the commitment of major companies to expand their investment portfolios in the world of cryptocurrencies.

If Bloomberg's predictions prove accurate, Bitcoin ETF launch The fourth quarter of 2024 will be a significant period for the cryptocurrency market, providing a major impetus for further adoption and innovation in the sector.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.