The topic of a spot Bitcoin ETF approval has been all everyone talked about this week, and not without a good reason.
As CryptoPotato reported, BTC’s price soared to $35K earlier this week, reaching levels not seen in a long time. The reason for it was that the website of the Depository Trust and Clearing Corporation (DTCC) suddenly showed a listing of a spot Bitcoin ETF carrying the ticker symbol iBTC – BlackRock’s BTC ETF.
Not that long after, however, the ticker was removed. The prices slid a little bit, but it was nothing too concerning. And a few hours later, the ticker appeared once again.
The listing of this ticker itself doesn’t mean a lot, but market participants are taking it as a sign that the approval chance for a spot Bitcoin ETF grew higher, hence the surge.
Now, a very popular crypto analyst – Pentoshi – took the opportunity to speculate on the potential upside for BTC in the next years, assuming an approved BTC ETF.