As the growing anticipation for a spot Bitcoin ETF approval continues to propel BTC prices higher, Jurrien Timmer, Fidelity’s director of global macro, believes the crypto asset could surge to over billion in 2038. Fidelity Investments achieves a significant milestone as its spot Bitcoin exchange-traded fund (ETF), known as FBTC, makes its appearance on the active and pre-launch list of the Depository Trust & Clearing Corporation (DTCC). The move places the financial services company at the forefront of the race for the first spot Bitcoin (BTC) ETF approval in the United States. First Spot Bitcoin ETF Expected to be Approved in January According to DTCC data, the listing of Fidelity’s spot Bitcoin ETF under the ticker FBTC on the DTCC website indicates imminent approval by the
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As the growing anticipation for a spot Bitcoin ETF approval continues to propel BTC prices higher, Jurrien Timmer, Fidelity’s director of global macro, believes the crypto asset could surge to over $1 billion in 2038.
Fidelity Investments achieves a significant milestone as its spot Bitcoin exchange-traded fund (ETF), known as FBTC, makes its appearance on the active and pre-launch list of the Depository Trust & Clearing Corporation (DTCC).
The move places the financial services company at the forefront of the race for the first spot Bitcoin (BTC) ETF approval in the United States.
First Spot Bitcoin ETF Expected to be Approved in January
According to DTCC data, the listing of Fidelity’s spot Bitcoin ETF under the ticker FBTC on the DTCC website indicates imminent approval by the United States Securities and Exchange Commission (SEC).
The company submitted an application for the spot BTC ETF in June, joining dozens of other companies awaiting the SEC’s decision on the approval.
Investors are eagerly awaiting the US SEC’s decision on various ETF applications, including Fidelity’s FBTC, the Ark 21Shares Bitcoin ETF (ARKB), with the final approval expected by January 10.
The approval of Fidelity’s FBTC would mark a historic moment, opening new avenues for institutional and retail investors to participate in the cryptocurrency market. A spot Bitcoin ETF offers more direct exposure to the underlying asset, potentially attracting a broader investor base.
Additionally, regulatory approval could signal a shift in how cryptocurrencies are perceived within traditional financial systems. The DTCC’s involvement underscores the industry’s gradual integration into mainstream financial infrastructure, paving the way for increased institutional adoption.
Bitcoin Could Reach $1B in 2038
As the growing anticipation for a spot Bitcoin ETF approval continues to propel BTC prices higher, Jurrien Timmer, Fidelity’s director of global macro, believes the crypto asset could surge to over $1 billion in 2038.
Drawing parallels to BTC as an inflation hedge akin to gold, Timmer asserts that portfolios with a small allocation to the asset could yield substantial returns, positioning Bitcoin above assets like S&P 500 and Gold in terms of risk-to-return ratio.
Other market experts have also predicted the leading crypto asset could reach $100,000 by the end of this year.
Additionally, options traders are increasingly placing bets, anticipating a surge in BTC to reach $50,000 by January. This speculation aligns with the general expectation among market observers that the SEC will grant approval for ETFs to directly include and hold the crypto asset during that period.