Former FTX US President Says Bitcoin Spot ETF Will Come In 2024, Gives Price Targets

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	10,017,774,846	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

10,017,774,846

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.000017	0.000017	0.000017

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.000017

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000017	0.000017	0.000017	0.000017	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000017

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	13:03:23	687,791.00	0.000017	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

13:03:23

687,791.00

0.000017

USD

Price x Volume	Volume	Base Symbol	Related Pairs
5,248,415.76	121,227,816,405.53	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

5,248,415.76

121,227,816,405.53

Former FTX US President Says Bitcoin Spot ETF Will Come In 2024, Gives Price Targets

06/12/2023 6:00pm

NEWSBTC

Former FTX US President Brett Harrison recently had an interview with Cointelegraph Magazine. As part of the discussion, Harrison gave his thoughts on when a Spot Bitcoin ETF will be approved and the possible price level the foremost crypto token could attain when this happens. A Spot Bitcoin ETF Could Be Approved In Q1 of 2024 Harrison is said to have mentioned that there is a very “high probability” that the Securities and Exchange Commission (SEC) will approve a Spot BTC ETF in the first quarter of 2024. His prediction happens to be in line with the fact that the SEC has to make a decision on ARK 21Shares Spot Bitcoin ETF on or before January 10, 2024. Related Reading: Crypto Expert Delivers Top 8 Altcoins To Buy On Binance As such, there is indeed a high likelihood that a Spot Bitcoin ETF could be approved in Q1 of 2024 (and as early as January). Bloomberg analysts James Seyffart and Eric Balchunas had also earlier mentioned that there is a 90% chance that approval will come by the January 10 deadline. Meanwhile, there is a growing belief that we might have more than one Spot Bitcoin ETF application approved by January 10. Seyyfart had, after the Templeton and Hashdex delay, reasoned that the SEC could be lining up all ETFs for a “full wave of approvals.” Bitcoin’s Potential Price When This Happens Harrison also gave his thoughts on what price level Bitcoin could hit when a Spot Bitcoin ETF is approved. The former FTX US President seemed to have been conservative with his price prediction as he put BTC’s potential price between $50,000 and $55,000. He doesn’t foresee the foremost crypto token hitting six figures towards the end of 2024 or early 2025. Related Reading: Shiba Inu Open Interest Falls Behind General Crypto Market, What This Means For Price His prediction about when Bitcoin could hit six figures coincides with Matrixport’s prediction of $125,000. The crypto financial services firm predicts that BTC will hit this price level by the end of 2024. Harrison’s prediction of the BTC price rising to as high as $55,000 on the back of approval seems plausible when looking at Matrixport’s projection of BTC hitting $63,140 by April 2024. Harrison is undoubtedly bullish about a Spot Bitcoin ETF and the success such an investment vehicle can enjoy. He alluded to the first day of a Bitcoin Futures ETF launching to back up his optimism. The ProShares Bitcoin Strategy (BITO) ETF (the first Bitcoin futures ETF) is reported to have seen more than $1 billion in its first two days after launch. BITO became the fastest ETF ever to hit that figure. However, Harrison believes that a Spot Bitcoin ETF could go on to break more records. Featured image from The Motley Fool, chart from Tradingview.com

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