1. About BTC Spot ETFs.
The situation is that all applications for approval of BTC Spot ETFs have been delayed. There will likely not be any approvals until the end of this year.
If approved, BTC Spot ETFs create a huge demand for BTC, increase market liquidity and increase price momentum for BTC. But it is also possible that it will be a pot, because we will be playing with many more large organizations from the traditional market.
2. About ETH Futures ETFs.
Valkyrie's ETH Futures ETFs were approved on September 29, 2023 and are available for trading. For me, this news is not good news at all, because BTC Futures ETFs were previously approved by the SEC. Futures ETFs do not create real demand for the asset. Pumps from perp are always unsustainable and extremely risky.
3. What does this stage do?
You can put down money for short-term investments during this October - November period, of course only a small part to invest in trend-appropriate projects. Flip the bet to increase capital to prepare for the uptrend.
For those who collect long-term goods, I now see that BTC and ETH are the two most solid goods that you should collect at this stage.
Finally, I wish everyone a happy Mid-Autumn Festival.
