At a time when the spot Bitcoin ETFs appear likely to be the next big market movers in the crypto ecosystem, MicroStrategy cofounder and Bitcoin<\/a> supporter Michael Saylor explained about a key gap that should explain the need for approval of the spot ETFs.<\/p>\n Also Read: Pepe Coin Telegram Hack Risks Potential Dump By Whales<\/strong><\/a><\/p>\n <\/p>\n Saylor had pointed to the gap between ProShares Bitcoin Strategy ETF (BITO) price return on year to date basis in comparison to the Bitcoin price<\/a> in the same time period. While BTC has risen around 57% year to date, $BITO rose by 28%, and Saylor argued<\/a> that such a gap explains the need for the spot Bitcoin ETF approval.<\/p>\n \u201c(ProShares Bitcoin Strategy ETF) $BITO has underperformed $BTC by 28% YTD. This is why we need a Spot Bitcoin ETF.\u201d<\/p>\n<\/blockquote>\n <\/p>\n However, James Seyffart, a Bloomberg ETF analyst, clarified<\/a> that Saylor was comparing BTC price with the $BITO price return as against the the total return, which also includes dividend value. Going by that comparison, Seyffart explained that the Proshares ETF is lagging behind by about 6.4% year to date.<\/p>\n <\/p>\n Hence, with the approval of spot Bitcoin ETFs, the crypto market could become more institutionalized and therefore, the gap between returns in futures ETFs against the spot ETFs could get minimized. Meanwhile, it remains to be seen how MicroStrategy, the world\u2019s largest institutional holder of Bitcoin., could pace its buying accumulation strategy if and when the spot ETFs become reality, as the likes of Blackrock and Fidelity would have to accumulate high volumes of BTC to operate the ETFs. Also, this would in turn generate a lot of demand for the cryptocurrency.<\/p>\nFutures ETF Price Return Vs Bitcoin Price<\/h2>\n
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Bitcoin ETF Price Return Vs Total Return<\/h2>\n
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