The narrative about Bitcoin (BTC) being a digital gold has been brought into question again by ETF analyst Nate Geraci. Geraci said the asset has yet to prove it can act as a reliable store of value. His view adds fresh scrutiny to a narrative that helped drive institutional interest during Bitcoin’s strongest years. Is
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Companies issuing exchange-traded funds will file for combined spot BTC, ETH, and SOL ETF this year, said The ETF Store president Nate Geraci on Monday. The prediction primarily follows spot Solana ETF filings by exchange-traded fund issuers VanEck and 21Shares. Spot Ethereum exchange-traded funds have received preliminary approval to start trading this week.
Nate Geraci Predicts Combined Spot Bitcoin, Ether, Solana ETF
With spot Ethereum ETFs anticipated to start trading on July 23, the crypto market recovery sees no signs of stopping amid bullish sentiment. A prediction by Nate Geraci, president of The ETF Store, has further fueled market sentiment, mainly for the Solana ecosystem.
According to Nate Geraci, an issuer will file for combined spot BTC, ETH, and SOL ETF in the next few months. He is upbeat about this happening soon this year after VanEck and 21Shares filed for spot Solana ETF with the U.S. Securities and Exchange Commission (SEC).
“We’re quickly heading down path towards index-based & actively managed crypto ETFs,” added Geraci. He believes the market will witness another paradigm shift in the industry as index-based and actively managed crypto exchange-traded funds. Combined spot BTC, ETH, SOL ETF will offer diversified holdings to investors.
Notably, CME and CF Benchmarks announced the launch of new reference rates and real-time indices for Ripple’s XRP and Internet Computer (ICP). These will be live on July 29. Ripple CEO Brad Garlinghouse pointed out it as a positive development for XRP ETF.
Also Read: Metaplanet Increases Bitcoin (BTC) Holdings, Stock Jumps 20%
Crypto Rises As President Biden Drop Out Of Presidential Race
With President Joe Biden no longer contesting in the presidential election against Republican nominee Donald Trump, Bitcoin and crypto market rally picked pace. However, crypto experts such as BitMEX CEO Arthur Hayes said Kamala Harris as a replacement for Biden would mean tough competition for Trump.
Bitcoin price surpassed $68,000 and ETH price rose above $3550 ahead spot Ethereum ETF launch. The total crypto market volume over the last 24 hours has increased by more than 43%.
Meanwhile, SOL price has jumped over 4% in the past 24 hours, with the price currently trading near $180. The 24-hour low and high are $171.12 and $184.87, respectively. Furthermore, the trading volume has increased by 77% in the last 24 hours, indicating a rise in interest among traders.
Also Read: Ripple CTO Bets on Joe Biden’s Replacement for Pro-Crypto Policy
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
JPMorgan can surprise the market by applying with the U.S. SEC to launch a spot Bitcoin ETF, said Nate Geraci, host of ETF Prime podcast and co-founder of ETF Institute, on Thursday. The comment came in response to JPMorgan CEO Jamie Dimon asking the US government to crush crypto, saying that crypto’s only use case is to promote crime.
Spot Bitcoin ETF By JPMorgan
Nate Geraci took to X on December 7 pointing out that JPMorgan could launch a spot Bitcoin ETF or make it easy for its wealth management clients to invest in Bitcoin. However, the financial giant is unlikely to overlook Bitcoin and crypto as the demand rises among institutional investors and family offices.
JPMorgan launched its first ETF in 2014, 21 years after the launch of first ETF. The company and CEO Jamie Dimon were against the highly disruptive ETFs and relied on its services. However, investors slowly turned to ETFs and JPMorgan followed.
JPMorgan was one of the first financial giants to step into the industry during the 2021 crypto market bull run. JPMorgan has its own JPM Coin to settle transactions, with now exploring cross-bank transactions and programmed payments.
JPMorgan’s silently filing spot Bitcoin ETF application could happen similar to BlackRock and Fidelity filings that completely changed the market sentiment and BTC price direction. CEO Jamie Dimon would like to capitalize on the Bitcoin adoption in the traditional finance industry.
Also Read: Cathie Wood’s Ark Invest Offloads $25M Of Coinbase & $3.5M Of GBTC Shares
JPMorgan CEO Jamie Dimon Criticized Crypto
During a hearing at the United States Senate Committee on Banking, Housing, and Urban Affairs, JPMorgan CEO Jamie Dimon lashed out at crypto. He added “If I were the government, I’d close it down.”
His comment came in response to his belief that criminals use crypto for drug trafficking, money laundering, tax avoidance, and other crimes.
Also Read: Bitcoin (BTC) CME Gap At $39,700, Is It Good Or Bad News For Investors?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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