CryptoQuant has revealed in its latest report that the Bitcoin market cap could rise by as much as $1 trillion after launching the spot ETFs.
Bitcoin Could See A 165% Rise When The Spot ETFs Launch
Yesterday, fake news of the approved iShares Bitcoin spot ETF took the sector by storm, as all cryptocurrencies observed sharp rallies. At the peak of this surge, BTC had approached the $30,000 level.
However, when the market realized the truth about the announcement, the asset quickly retraced to the levels it was at before the rally. While the gains were only brief, the rally nonetheless provided a glimpse into the strong reaction that the market could see to the launch of a real ETF.
This was just one spot ETF; however, several others are waiting in line to be approved. How would the market look like when all these ETFs have launched? In its new report, the on-chain analytics firm CryptoQuant has discussed precisely that.
The above table shows information about the various companies wait
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