Thread by @DoopieCash

Since its inception in 2009, #Bitcoin has gained mainstream recognition & acceptance, therefore the need for a Bitcoin Spot ETF has become increasingly important. A $BTC spot ETF would offer numerous benefits, not just for individual investors but for the overall #crypto market

Throughout the years I've talked to numerous high-net-worth people, and I mean the top tier, like 0,1% type.

Many, if not all, are still very skeptical towards Bitcoin, not because they don't like the tech or the possible returns, but because they don't like the EXTERNAL RISK!

Wealthy people know that protecting their stack is the best way to stay wealthy. Until now, we haven't seen much of this legacy money, except a few high-risk prop firms or some small hedge funds.

A BTC Spot ETF would provide a regulated & accessible investment vehicle for these traditional investors who may be hesitant to directly engage with #cryptocurrency exchanges.

This would open the doors for the legacy on-ramp like institutional investors, pension funds & other large players to enter the Bitcoin market, potentially driving substantial inflows.

Investors would be able to gain exposure to the actual underlying asset, Bitcoin, but without the complexities & potential risks (need to manage private keys or worry about storage & security).

Not everyone wants to be their own bank, you know...

This convenience & ease of access would attract a broader range of investors, leading to increased liquidity & potentially reducing price volatility. A huge reason #Gold is such a popular investment is its liquidity.

Gold's proven track record over a large period has created confidence among buyers. Whenever you're looking to sell your gold, you will find a willing buyer. This also supports the buoyancy of the Gold market & accounts for long-term stability.

One significant advantage of a spot ETF is its potential to enhance price discovery in the Bitcoin market. ETFs are known for their transparency, as their net asset value is closely tied to the value of the underlying asset.

This transparency could help mitigate market manipulation concerns and provide a more accurate reflection of Bitcoin's true value. Additionally, a Bitcoin Spot ETF could help alleviate some of the regulatory uncertainties surrounding cryptocurrency investment.

The regulatory framework for ETFs is well-established, and the introduction of a regulated Bitcoin ETF could provide clarity and confidence to both investors and regulators alike.

Increased adoption of a Bitcoin Spot ETF would lead to improved market infrastructure & custodial services. This would benefit not only investors but also the entire #crypto ecosystem, boosting further innovation # development to support digital assets.

BLACKROCK enters the channel...dun dun DUUUUN! (dramatic sound effect)

For those who do not know, BlackRock is the largest asset manager in the world and has an AUM that's larger than the GDP of all countries on Earth except the US and China.

Historical examination reveals intricate dynamics between the SEC and BlackRock, particularly in the context of approving or rejecting ETFs.

Fun fact: BlackRock has only ONCE had an ETF it proposed rejected (out of the 576) by the SEC

Why does BlackRock want this BTC ETF?

Money = power, and there is a lot of money to be made with this ETF.

Overall, the importance of a BTC spot ETF cannot be overstated. It has the potential to bring significant liquidity, transparency & regulatory clarity to the crypto market.

It could act as a catalyst for increased institutional adoption & pave the way for broader acceptance of digital assets in the mainstream financial world, making the crypto market a safer and happier place 🌞