Bitcoin ETFs can see the cryptocurrency shoot through the roof

<img width="562" height="338" src="https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin.jpg 880w, https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin-730×438.jpg 730w, https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2020/12/Bitcoin-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>This economist was also correct in his bullish S&amp;P 500 approach, despite everyone anticipating recession and stock price drops. Lee said this index would end at 4,750 in 2023. It closed at 4,769.</p>
<p>Still trying to regain a balance after the FTX scandal, TerraUSD $60bn wipe-out, and crash which saw Bitcoin plunging from $69,000 in 2021 to $16,256 in 2022, cryptocurrency markets entered 2023 on the front foot as the SEC approved 11 Bitcoin ETFs. Regulator crackdowns on irregularities, such as the Binance money-laundering issues, also instilled renewed confidence in investors.</p>
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<p>In 2023, Bitcoin increased by 150%. It closed Tuesday, 24 January, trading at $40,0754.55 and has a current market cap of $780.97bn. Owning Bitcoin before the approval of the ETFs was risky as it either sat in a digital wallet or brick-and-mortar storage, saved on a memory stick. Financial managers running these groundbreaking ETFs include <a href="https://www.leaprate.com/forex/blackrock-seeking-sec-approval-for-spot-ethereum-etf/" target="_blank" rel="noopener">BlackRock</a>, Ark Investment Management, and Fidelity.</p>
<p>Predictions are that these ETFs can trigger a demand ranging between $50bn to $100bn during 2024 as asset managers buy up tokens. Presently, annual spot-bitcoin ETF fees hover between 0.2% and 1.5% of the total value of Bitcoin owned.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/market-news/bitcoin-etfs-can-see-the-cryptocurrency-shoot-through-the-roof/">Bitcoin ETFs can see the cryptocurrency shoot through the roof</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>