Gabor Gurbacs, strategic advisor at VanEck and founder of PointsVille, posted on social media platform
The Rise of Bitcoin ETFs
Gurbacs highlights how long it took for Bitcoin ETFs to become a reality. In his view, the joint efforts of applicants, issuers and companies could increase Bitcoin accessibility exponentially by 10 to 50 times within a year, allowing it to enter traditional capital markets.
Given expectations of large inflows of capital and M&A activity, Gurbacs emphasizes the certainty surrounding Bitcoin. Financial firms are eager to cash in on the Bitcoin market by allocating significant capital to hiring high-potential teams and products. The approval opens the door to fierce competition between digital asset companies seeking to compete with the giants of traditional finance.
market share competition
Gurbacs predicts market share competition among successful digital asset companies. According to him, “the right team with the right resources and focus will win.” Ownership of cutting-edge technologies and acquisition of strategic teams will play a pivotal role in shaping global market power dynamics.
market insight
Bitcoin had a notable surge last week, but its price has fallen 13% since then. Traders are selling Bitcoin to leverage profits and invest in spot Bitcoin ETFs. Additionally, on-chain data shows a notable increase in selling activity from Bitcoin miners, offloading 10,600 BTC worth approximately $455.8 million in the last 24 hours.
The approval of the Bitcoin ETF is a historic moment that brings Bitcoin into the mainstream financial markets. Gurbacs’ insights reflect the optimism surrounding institutional participation and the emergence of powerful players in the evolving cryptocurrency landscape.