Experts anticipate changing perspectives on Bitcoin after ETF approval, with no ‘sell the news’ phenomenon expected.

Amidst the buzz surrounding the imminent decision on the Bitcoin exchange-traded fund (ETF), the crypto community is engaged in lively discussions about the potential implications for Bitcoin. All eyes are on ARK 21Shares, eagerly awaiting the SEC’s announcement set to be released on Wednesday.

Contrary to the belief that a positive decision would trigger a “sell the news” event, analyst Alex Becker has stirred things up by suggesting that it could actually democratize Bitcoin accessibility. Becker argues that approval of a Bitcoin ETF would open doors for individuals with substantial wealth who may have been hesitant to enter the crypto market through traditional means, such as self-custody.

The concept of self-custody is crucial in understanding Becker’s perspective. He highlights that many retirees, pension funds, and financial managers feel uncomfortable holding large sums of cryptocurrency themselves. Therefore, a Bitcoin ETF would provide a more secure and regulated avenue for these individuals to invest their money.

Coinpedia reports that Bitcoin’s current price sits at $44,039, which sets the stage for potential market movements based on the outcome of the SEC’s decision.

The approval of a Bitcoin ETF has sparked debates among industry experts and market analysts. Dan Webb, Swan Bitcoin’s engineering lead, explores the risk-reward considerations for those shorting Bitcoin, emphasizing the potential upside in the event of positive news. On the other hand, Mati Greenspan, Founder and CEO of Quantum Economics, speculates that SEC Chair Gary Gensler may adopt a cautious approach and be reluctant to approve any crypto-related ETF to align with the interests of traditional financial institutions.

Tags: Bitcoin, Bitcoin ETF