Spot ETF-induced Bitcoin rally isn’t assured to stay: Analysts

Whereas the approval of a spot (BTC) exchange-traded fund (ETF) will doubtless spike the value of Bitcoin, some analysts are involved it received’t be sufficient to totally thaw the markets from its winter chill.

On Oct. 24 Bitcoin staged its largest single day rally in over a yr, surging greater than 14% on the information that the ticker of BlackRock’s spot Bitcoin ETF — IBTC — had been listed on the Depository Belief & Clearing Company (DTCC) web site, one thing markets understood as a constructive step ahead for the funds’ utility.

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