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The co-founders of crypto analytics firm Glassnode think that a deluge of capital will flow into Bitcoin once regulators greenlight a spot-based BTC<\/a> exchange-traded fund (ETF).<\/p>\n Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the social media platform X, say<\/a> institutional capital to the tune of trillions of dollars is waiting on the sidelines for a spot market BTC ETF.<\/p>\n \u201cThe introduction of Bitcoin Spot ETFs is reshaping the financial landscape in unprecedented ways. Demand is on the rise, with over $15 trillion in assets from companies seeking Bitcoin Spot ETF approval. <\/em><\/p>\n The looming institutional FOMO (fear of missing out), once Bitcoin ETF Spots get the green light, could potentially ignite a bull run, propelling us to new heights in the crypto market.\u201d Last week, Bloomberg analyst Eric Balchunas said<\/a> that financial behemoth BlackRock is already funding its BTC ETF, the iShares Bitcoin Trust.<\/p>\n Looking at the price action of Bitcoin, the Glassnode co-founders say that BTC is starting to cool off after rising to about $35,000.<\/p>\n \u201cIt\u2019s safe to say that the bulls won this week, at least for now. BTC has finally stabilized and lost some steam after several days of rising, with a price decrease to roughly $34,000. <\/em><\/p>\n Future ETF approvals could lead to further gains; however, they will be short-term \u2018sell the news\u2019 events due to market dynamics.\u201d\u00a0<\/em><\/p>\n At time of writing, Bitcoin is trading for $34,076.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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