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    Home » SEC Approval of Bitcoin ETF Options Bolsters Liquidity Outlook Prior to 2024 Elections
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    SEC Approval of Bitcoin ETF Options Bolsters Liquidity Outlook Prior to 2024 Elections

    By adminOct. 20, 2024No Comments2 Mins Read
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    SEC Approval of Bitcoin ETF Options Bolsters Liquidity Outlook Prior to 2024 Elections
    SEC Approval of Bitcoin ETF Options Bolsters Liquidity Outlook Prior to 2024 Elections
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    The recent SEC approval for Bitcoin ETF options is poised to enhance liquidity for the exchange-traded funds.
    On Friday, the SEC
    greenlit
    applications from the New York Stock Exchange and the Chicago Board Options Exchange to introduce options for these long-awaited Bitcoin ETFs, allowing trading for 11 approved providers.
    Trading firm QCP Capital noted in a research report that this move is likely to attract significant inflows, indicating strong institutional demand for
    Bitcoin
    . They suggested that the SEC’s decision will provide the liquidity necessary for these ETFs to maintain sustainable growth. Historically, ETFs have driven considerable investment in Bitcoin, with approximately 75% of new funds coming from them when Bitcoin exceeded the $50,000 threshold earlier this year.
    As the 2024 U.S. presidential elections approach, interest in riskier assets like Bitcoin may increase. QCP Capital
    pointed out
    that rising U.S. equities and a weakening Japanese yen could bolster investor sentiment, potentially leading to higher valuations for risk-on assets as the election draws near.
    READ MORE:


    Bitcoin Poised to Surpass $70,000 Amid Political Changes, Says Matrixport
    With Election Day just weeks away, former President Donald Trump’s chances of winning the election recently hit 60.2%, according to Cointelegraph.
    For Bitcoin to break out of its current trading range, it must close the week above $68,700, as noted by crypto analyst Rekt Capital. He highlighted that such a close would indicate a bullish trend. This week’s favorable ETF inflows could support that breakout, as Bitcoin ETFs surpassed $20 billion in net flows just ten months after their launch, a milestone that took gold ETFs nearly five years to achieve.

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    Next Article Is Bitcoin on the Verge of Reaching a New AllTime High as its Price Surpasses 69000

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