The application by BlackRock, the world’s largest asset manager, for approval of a Bitcoin spot ETF with the US Securities and Exchange Commission (SEC) is the biggest story in the crypto market today. Numerous experts are extremely optimistic that an approval of the first Bitcoin spot ETF in the US will be a massively bullish event, attracting huge amounts of new capital and triggering a new bull run. But where does this theory come from? Bitcoin is often referred to as the digital gold of the 21st century, so it’s an obvious choice to look at the history of gold and the first gold based spot ETF. Why The BlackRock Bitcoin ETF Would Be So Bullish The first thing to note is that BlackRock applied for a spot ETF and not a Futures ETF. The SEC has already approved a number of Bitcoin Futures ETFs that hold Bitcoin futures contracts on the CME. These are currently traded on the US equity markets, but have relatively low popularity. And this has its reasons, first and ..
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