The launch of the highly anticipated US spot Bitcoin ETF is expected to be made this month. The US Securities and Exchange Commission (SEC) is considering giving the green light to 12 ETFs expected for approval by January 10. A remarkable statement came from VanEck's advisor, Gabor Gurbacs, that despite great expectations, the launch of ETFs may cause disappointment in Bitcoin (BTC) in the short term.

Spot Gold ETFs vs Spot Bitcoin ETFs

According to VanEck advisor Gabor Gurbacs, the launch of spot Bitcoin ETFs will not have much impact on Bitcoin in the short term. Gurbacs nevertheless underlined that the launch of ETFs could attract trillions of dollars to the cryptocurrency market. Gurbacs, who posted on the subject on his personal However, Gurbacs pointed out the increase in gold prices following the launch of spot gold ETFs and underlined that he was optimistic about the impact of ETFs on Bitcoin in the long term. As it is known, on November 18, 2004, the global investment consultancy company State Street launched the first spot gold ETF. launched it. Gurbacs pointed out that in the eight years following the launch, the price of gold increased more than fourfold, from $400 to $1,800. This massive outflow enabled the total market value of gold to increase from $2 trillion to $10 trillion in the same time period. Bitcoin today sits above a market cap of $834 billion, which corresponds to approximately 41 percent of the market value of gold in 2004. Gurbacs said that in the current environment, where expectations are high that a spot Bitcoin ETF will be approved in the US, Bitcoin's price trajectory is He believes gold can follow in his footsteps, but added that following this trajectory will happen much faster due to its limited supply and scarcity-increasing events such as block reward halvings. He added that one of the key benefits of the Spot Bitcoin ETF comes from its ability to legitimize and destigmatize Bitcoin in the eyes of institutional investors and nation states.

The Real Impact of ETFs on Bitcoin Will Be Seen in the Long Term

Bloomberg ETF analistleri Eric Balchunas ve James Seyffart da Gurbacs ile aynı fikirdeler. Seyffart, birçok kişinin ETF’ye günlük girişler gibi kısa vadeli veri noktalarına odaklandığını ancak böyle bir üründe asıl odaklanılması gerekenin uzun vadeli etkisi olduğunun altını çizdi.CoinMarketCap verilerine göre Bitcoin şu anda son 24 saatte yüzde 1,1 yükselişle 42 bin 525 dolardan el değiştiriyor. Birçok piyasa yorumcusu beklenen ETF onayının hemen ardından fiyatta önemli ve uzun süreli bir yükseliş olacağını savunurken, diğerleri onayın bir “beklentiyi al, haberi sat”ın tetikleyicisi olacağı ve fiyatın sert şekilde düşeceğini değerlendiriyor.