Grayscale Bitcoin Trust Discount Reduces and Investors Support $2 Million in New Bitcoin ETF Tokens as Selloff Nears, SEC Approved Betting Increases.

The Grayscale Bitcoin Trust (GBTC) discount is fading away and the new Bitcoin ETF token ($BTCETF) has gained 200% from traders following two recent signs that bets are piling up that a spot Bitcoin ETF approval is imminent. We raised ten thousand dollars.

Meanwhile, Michael Novogratz, founder of Galaxy Digital Holdings, believes that if a Bitcoin ETF is approved, the price of Bitcoin will return to all-time highs near $69,000 printed in November 2021. .

“Once the government announces it will allow Bitcoin purchases, you will see psychology change quite successfully,” says Novogratz, who expects billions of dollars of new money that is currently sitting idle to flood the market.

Bloomberg Intelligence analysts believe there is a 90% chance that a Bitcoin ETF will be approved. It is these expectations that have caused the price of Bitcoin to double this year, outperforming all other asset classes.

The new Bitcoin ETF token is gaining attention as the only cryptocurrency specifically designed to reward holders when a spot Bitcoin ETF is accepted.

Its value is tied to actual milestone events associated with Bitcoin and Bitcoin ETF products, such as approvals, launches, assets under management, and trading volume.

This breakthrough serves as a trigger for a burn that increases the value of the $BTCETF token, which is proving to be one of the smartest ways for the new cryptocurrency to capitalize on the Bitcoin ETF investment theme.

For those who have access to the Grayscale Bitcoin Trust over-the-counter market through their broker of choice, this provides an alternative approach to play this market.

At the beginning of the year the discount rate was -46%, but now it is only -8%. The discount measures how much less the stock is trading at than its net asset value (the value of the Bitcoin it holds). If the trend continues or picks up speed, GBTC could start trading at a premium again, as it did during the bull market.

However, the downside to betting on GBTC is that if the trust converts from its current closed-end structure to an ETF, there is a high possibility that funds will be drained as profit taking begins.

And as it trades at a premium, this was an additional price institutional investors were willing to pay to secure a regulatory path into the cryptocurrency asset class. If GBTC were to trade at a premium again, the acceptance of a spot Bitcoin ETF would eliminate the basis for that premium.

Market participants expect the spot Bitcoin ETF to be approved on January 10, 2024, so there isn’t much time for GBTC to move to a premium price.

If you use $BTCETF you won’t have this problem. Conversely, the coin is designed to take advantage of approvals and other product development events, so it will continue to grow as a value proposition for traders and investors.

The $BTCETF ICO launched a few weeks ago, but there are less than 48 hours left until the next price increase (from $0.0060 to $0.0062).

However, the current stage 6 price will end once it reaches $2,498,109, which could come sooner than the remaining time allotted and increase FOMO in the market. There are a total of 10 price steps on the way to the $5 million hard cap. With the pace of ICO execution accelerating, there is no time to waste, but potential buyers must conduct their own due diligence.

There is excitement in mainstream finance as new issuers enter the Bitcoin ETF market every week. Swiss asset manager Pando Asset has filed a Form S-1 with the Securities and Exchange Commission for the Pando Asset Spot Bitcoin Trust.

Standard Chartered Bank analyst Geoff Kendrick has set a Bitcoin price target of $100,000 by the end of 2024, with optimism that the next halving bull market is starting to take root alongside the ETF craze.

🇨🇭 Swiss @PandoAsset Entering the US #Bitcoin #ETFs Compete among a surge of applicants. @black stone and @fidelityThis hints at potential change. #Cryptocurrency sight. 💭#Bitcoin ETF We also achieved a milestone of raising over $2 million! 🚀 pic.twitter.com/NyGzDQIMkf

— BTCETF_Token (@BTCETF_Token) November 30, 2023

The Bitcoin ETF token is a cryptocurrency designed to reward investors based on their acceptance of Bitcoin ETFs.

Built on the Ethereum blockchain, the $BTCETF token will initially include a burn tax when the coin is launched on a decentralized exchange (DEX). For each milestone you achieve, your taxes are reduced by 1%.

There is also a separate burn mechanism for up to 25% of the total supply to increase the deflationary scarcity of the coin. Each time a $BTCETF milestone is passed, 5% of the total supply is burned.

These two mechanisms mean that $BTCETF holders receive the most closely aligned rewards of any cryptocurrency to the spot Bitcoin ETF growth theme.

The Bitcoin ETF token burn ($BTCETF) and transaction tax reduction are tied to the development of the actual Bitcoin ETF. Source: Bitcoin ​​ETF Token

Buy and stake $BTCETF today to earn 120% APY.

$BTCETF tokens can be purchased today in the pre-sale and staked to earn an Annual Percentage Yield (APY) of 120% at the time of this writing.

To date, 212 million $BTCETF tokens have been deposited in staking smart contracts, proving the popularity of this passive income path. Staking rewards are distributed in $BTCETF over 5 years. Each ETH block created generates a reward of 119 $BTCETF.

A YouTube crypto expert says $BTCETF “frankly looks attractive.”

The popularity of Bitcoin ETF tokens is high, as evidenced by the number of influencers endorsing them.

A sampling of some of the press coverage shows influential cryptocurrency YouTuber Matthew Perry telling his over 200,000 subscribers that he likes the concept behind the $BTCETF token. “This honestly looks attractive,” he says.

Other YouTube cryptocurrency experts who like what they see include Michael Wrubel, who has 310,000 subscribers. He is very bullish on $BTCETF, as he explains in his video, which has already garnered 21,000 views.

Austin Hilton was also impressed by the coin’s concept, telling his 235,000 subscribers that he thought it had a unique use case because it was “something we’ve never seen before.”

Another cryptocurrency analyst on YouTube tells viewers to get ready to ride the explosive wave by investing in $BTCETF.

Buy $BTCETF for direct exposure to groundbreaking moments in the Bitcoin market

It cannot be underestimated how much of an impact the approval of a Bitcoin ETF will have on the cryptocurrency industry and its markets. For the first time, Bitcoin will be accessible in a regulated and affordable manner to ordinary retail investors, as well as professional traders and institutions.

Additionally, asset managers and financial advisors will soon be able to allocate client funds to Bitcoin without having to enter futures markets or worry about custody and regulation.

If the emergence of spot Bitcoin ETFs is as impactful as the launch of the first gold exchange-traded fund in 2003, hundreds of billions of dollars could flow into the market over the next few years. In the year the spot Bitcoin ETF launches, Galaxy Digital expects $14 billion in inflows.

Thanks to $BTCETF, market participants will no longer have to wait for the launch date of the first Bitcoin ETF in the United States to gain exposure to this inflection point in the cryptocurrency market. Instead, investors can purchase Bitcoin ETF tokens today to align their portfolios for a future historic Bitcoin bull market.

To buy $BTCETF, connect a cryptocurrency wallet funded with ETH or USDT, or donate using your bank card.

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