What is Bitcoin ETFs and why is it at the top of Google searches these days in 2024?

If this is the first time you are reading the term (Bitcoin ETFs) or if you have come across these acronyms countless times lately, aKII is going to share with you a clear and simple explanation, so that you understand what is happening in 2024 in the crypto market.

What does a Bitcoin ETF mean?

Imagine that some people want to have Bitcoin, but also stop worrying about keeping them safe, then some experts or administrators in the financial world create a box that allows them to have Bitcoin, they manage and custody it, in addition the boxes (ETFs) have financial regulation by state entities, which translates into greater protection for the user. In this way, more people access assets safely and the adoption of cryptocurrencies, such as Bitcoin, becomes a reality for enthusiasts, experts or ordinary people.

Understanding the above, let’s talk about the movements that are currently taking place in the cryptocurrency market and what will happen.

What will happen in the cryptocurrency market from Bitcoin ETFs.

The SEC (Securities and Exchange Commission of the United States) is carefully analyzing whether to approve Bitcoin ETFs, the decisive day is today, January 10, 2024.

What do some experts say? According to Bloomberg analysts, there is a 10% chance that 1 or more ETFs will be approved.

Why is this relevant for financial analysts? In 2003, when the gold ETF was approved in Australia, its price was positively impacted with an increase of 350%. For this reason, they propose that the following movements can be presented:

• If just 1% of the capital from bonds, real estate investments, pensions and others were redirected to Bitcoin, according to analysts, there could be an 8X increase.
• If 5% were redirected, then a 40X could occur.

An immense expectation for the results of Bitcoin ETFs.

However, two scenarios that could occur on the part of Bitcoin holders must be taken into account. Some can start selling and the price would not rise so quickly. On the contrary, there will be those who decide to continue holding for longer and the price could skyrocket.

Although analysts focus mostly on American companies, which is a gigantic market, in Hong Kong, according to some media outlets, they are preparing to approve an ETF and eventually this will be introduced in China.

Cryptocurrency market sentiment is positive.

The crypto market is giving the world something to talk about in a positive way and we at KII Global and KIIEX celebrate this, which is why we will continue to pay attention to what may happen.

Last, but not least, pay attention to the turn that this event may take, since according to some sources, an Ethereum ETF is being considered in 2024.