{"id":32664,"date":"2023-07-07T11:20:38","date_gmt":"2023-07-07T15:20:38","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/jp-morgan-cast-doubts-on-the-possible-effects-of-a-spot-btc-etf\/"},"modified":"2023-07-07T11:20:40","modified_gmt":"2023-07-07T15:20:40","slug":"jp-morgan-cast-doubts-on-the-possible-effects-of-a-spot-btc-etf","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=32664","title":{"rendered":"JP Morgan Cast Doubts On The Possible Effects of A Spot BTC ETF"},"content":{"rendered":"
\n

Financial giant, JP Morgan believes that an approval of a spot Bitcoin (BTC) ETF by the Securities and Exchange Commission (SEC) will not significantly affect the price and adoption of the asset.<\/p>\n

In a new report, the bank opined that while the community lauds the remarkable progress made by firms on the cusp of a milestone achievement, it may have its downsides in other areas.\u00a0<\/p>\n

The institution\u2019s analysts led by Nikolaos Panigirtzoglou explained that spot BTC ETFs have been approved in other jurisdictions without being the game-changer for the asset even during bear markets.\u00a0<\/p>\n

\n

\u201cSpot bitcoin ETFs [have] existed for some time outside the U.S., in Canada and Europe, but have failed to attract large investor interest.\u201d<\/i><\/p>\n<\/blockquote>\n

The report cited the poor performance of other Bitcoin products, particularly future-backed markets, as a significant reason for its predictions.\u00a0<\/p>\n

\u201cBitcoin funds overall, including futures-based and physically backed funds, have attracted little investor interest since Q2 2021, also failing to benefit from investor outflows from gold ETFs over the past year or so,\u201d <\/i>the report reads.\u00a0<\/p>\n

According to the analysis, spot BTC ETFs would be better than future-based<\/u> ones for the market, however, the difference could be minimal and less overblown than some observers have noted.\u00a0<\/p>\n

The approval of a spot BTC ETF could see traders and investors shift liquidity from the futures markets leading to a direct replacement without needed growth.\u00a0<\/p>\n

This is due to the real-time advantages as they are impacted by the current demand and supply. Many also believe that the approval of spot ETFs would increase transparency in the spot market.<\/p>\n

Landmark spot\u00a0 ETF now within sights<\/h2>\n

The new wave of a Bitcoin spot ETF was sparked<\/u> by BlackRock\u2019s application in June 2023. Many consider it to be the real deal following its previous successes with the SEC.\u00a0<\/p>\n

The Commission had notably turned down all previous applications for a spot BTC ETF in the US despite numerous applications by leading firms.\u00a0<\/p>\n

Per the report, there is growing optimism over the prospects of an application scaling the Commission\u2019s hammer.\u00a0<\/p>\n

Several applications were filed by firms following BlackRock including WisdomTree, Invesco, Valkyrie, etc with several improvements added.\u00a0<\/p>\n

JP Morgan noted that the re-filing of the application by BlackRock and other firms puts them at an advantage as they have now ticked all known boxes and await approval in the future.\u00a0<\/p>\n

The buzz around the spot ETF skyrocketed<\/u> the price of BTC above $31,000 with bulls predicting a much higher price in coming weeks.\u00a0<\/p>\n

At press time, BTC exchanges hands at $30,404.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Financial giant, JP Morgan believes that an approval of a spot Bitcoin (BTC) ETF by the Securities and Exchange Commission (SEC) will not significantly affect the price and adoption of the asset. In a new report, the bank opined that while the community lauds the remarkable progress made by firms on the cusp of a […]<\/p>\n","protected":false},"author":1,"featured_media":32665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-32664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nJP Morgan Cast Doubts On The Possible Effects of A Spot BTC ETF | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Financial giant, JP Morgan believes that an approval of a spot Bitcoin (BTC) ETF by the Securities and Exchange Commission (SEC) will not significantly\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=32664\" \/>\n<meta property=\"og:locale\" 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