Pompliano expects SEC approval for Bitcoin ETF.
- Pompliano says the underlying fundamentals of Bitcoin are getting stronger.
- He expects a Spot Bitcoin ETF to have a significant impact on BTC.
- Bitcoin is currently up a staggering 85% since the beginning of the year.
Anthony Pompliano agrees that Bitcoin may face obstacles in the near future, but he remains optimistic about the long-term prospects of the digital asset.
Pompliano shares his view on Bitcoin
The founder of Pomp Investments is positive because the underlying fundamentals of the world’s largest cryptocurrency by market capitalization are improving.
Bitcoin is anti-fragile. We are witnessing record-breaking hash rates and adoption. People are recognizing its value and investing significant capital into the network.
The total supply of Bitcoin is expected to halve in April 2024, which historically has caused a price catalyst.
Currently, BTC has already increased by approximately 85% since the beginning of the year.
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Is a Spot Bitcoin ETF coming soon?
Pompliano is also confident that the U.S. SEC will eventually approve a Spot Bitcoin ETF, which will likely further support the cryptocurrency.
His comments come after a recent wave of applications for such an exchange-traded fund, which the regulator has already deemed inadequate. However, Pompliano stated today on CNBC’s “Squawk Box”:
It’s a minor detail that is more of a formality. We see Wall Street expressing the desire for BTC access. So, when the spot bitcoin ETF is approved, a significant amount of capital will be invested.
He is particularly confident because BlackRock, a reputable company, has recently filed for a Spot Bitcoin ETF. BlackRock typically pursues an exchange-traded fund only when it is confident of approval.