Eleven approved Bitcoin ETFs have painted the pioneering cryptocurrency with a fresh coat of legitimacy. By receiving an official blessing from the Securities and Exchange Commission (SEC), an institutional investing barrier has been lifted.
With this barrier gone, financial advisors, mutual funds, pension funds, insurance companies and retail investors can now receive Bitcoin exposure without hassling with direct custodianship. More importantly, a taint has been scrubbed off from Bitcoin, previously likened to “tulip mania”, “rat poison”, or “index of money laundering”.
Following the unprecedented domino of crypto bankruptcies throughout 2022, Bitcoin price reverted to November 2020 level of $15.7k by the end of that year. After that great FUD reservoir was drained, Bitcoin slowly recovered during 2023 and entered 2024 at $45k level, first visited in February 2021.
With the 4th Bitcoin halving ahead in April, and with ETFs setting new market dynamics, what sho
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