Grayscale bitcoin ETF may be giving bulls 'too much hopium': Strategist

📆 8/31/2023 12:31 AM
📰 YahooFinanceCA

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A federal appeals court handed Grayscale a monumental victory in its path to converting its bitcoin trust (GBTC) into a spot bitcoin ETF. Crypto traders are doubling down on bullish sentiments as this decision could change the tide for broadened crypto asset exposures in the future. Swan Bitcoin Managing Director Terrence Yang joins Yahoo Finance Live to discuss the volatility to come in the crypto market. 'Too many bulls... that think the ETF will be approved ASAP or in the next several weeks,' Yang says. 'I'm not sure we are going to see a launch of any bitcoin, I don't think we'll see we will be a launch of any spot bitcoin ETF before year-end and I'm happy to bet people on this, I've been... goading some of the hopium bros on Twitter to bet against me.' Yang also comments on the potential for bitcoin price manipulation and how Wall Street firms like BlackRock (BLK) may adopt bitcoin ETF investments.

Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023. -- Grayscale Investments LLC won a key legal fight in its push to launch a Bitcoin exchange-traded fund, bringing the crypto industry to the precipice of tapping billions of dollars from everyday investors.

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US Court Paves Way for First Bitcoin ETF in Grayscale RulingGrayscale Investments LLC got backing from a federal court to launch the first Bitcoin exchange-traded fund in the US, a watershed moment in the cryptocurrency industry’s quest to tap billions of dollars from everyday investors.
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