When the Bitcoin futures ETF was started in early 2021 it had a lot of interest and may have contributed to the peak Bitcoin price that year, before the token fell into the abyss of crypto winter. This time around the response to a spot Bitcoin ETF is a big yawn from the crypto community. https://youtu.be/rxUYeFhrunI

1. By: www.ProfitableInvestingTips.com

2. Blackrock and others are applying with the Securities
and Exchange Commission to start ETFs that track the
spot price of Bitcoin. There are already ETFs that track
Bitcoin and Ether futures. The new ETFs, if approved,
will offer a simpler approach by simply tracking the
spot price of the token itself.

3. When the Bitcoin futures ETFs were started in early 2021
they had a lot of interest and may have contributed to
the peak Bitcoin price that year, before the token fell
into the abyss of crypto winter. This time around the
response to a spot Bitcoin ETF is a big yawn from the
crypto community.

4. Interest in Crypto Has Narrowed Since 2021

5. Before crypto winter nearly sucked the life out of
cryptocurrencies, you could hardly avoid conversations
about Bitcoin and the rest. People were doing things as
extreme as putting second mortgages on their homes
in order to buy Bitcoin. A Bitcoin futures ETF was new,
bright, and shiny.

6. It offered the ability to buy and sell futures on an
extremely volatile and potentially profitable pair of
crypto tokens, Bitcoin and Ether. The newness of this
vehicle for potential Bitcoin profits probably
outweighed its utility for many who bought in. When
those who bought in realized that this was not a path
to magical profits, interest fell off. Flagging interest got
worse as the price of Bitcoin plummeted.

7. Is a Spot Bitcoin ETF a Good Idea?

8. From our viewpoint, an ETF that tracks the spot price of
Bitcoin makes more sense for most folks than an ETF
that tracks Bitcoin futures. The point is to make it
easier to invest in Bitcoin without having to get a
wallet, learn about blockchains, and come up with tens
of thousands of dollars. There is one big problem for
this vehicle, providing that the SEC lets Blackrock,
Fidelity, and others start one or more of them. Interest
in Bitcoin has fallen dramatically since the first Bitcoin
futures ETF opened its doors.

10. Who Is Interested in Bitcoin These Days?

11. Investors in general are less comfortable with
cryptocurrencies that they were before crypto winter.
From 2021 to 2022 the percentage of American adults
who felt comfortable with cryptocurrencies fell from
35% to 21% and had not made a big recovery in 2023.
Every investment has a story. The average person who
became interested in Bitcoin wanted to get in on the
profits as they saw it go from pennies and dollars per
token to tens of thousands of dollars.

12. The back story for Bitcoin had to do with its original
purpose as a way for people to do business on the
internet without paying middlemen. It was supposed
to be a way to avoid being watched by governments
and other agencies thus providing financial privacy. As
Bitcoin soared in value the rationale evolved that
crypto was a way to protect against inflation, social
unrest, war, and other perils.

13.  During crypto winter the dollar went up in value while
Bitcoin fell. All of the hype around Bitcoin was
stripped away when its value fell like a rock. Many who
saw easy money in Bitcoin lost money and then lost
interest. This is why a new Bitcoin spot price ETF will
be used by the investors who have stayed and not by a
whole herd of bright-eyed and excited folks chasing
magical profits like before.

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