TL;DR
- The Depository Trust and Clearing Corporation (DTCC) briefly listed a spot Bitcoin ETF ticker symbol iBTC – BlackRock’s BTC ETF, leading to a BTC price surge to $35K.
- Market participants perceive the listing as a sign that the approval chances for a spot Bitcoin ETF have increased.
- Crypto analyst Pentoshi speculated that if a BTC ETF is approved, the Bitcoin price could potentially reach $180K in the next 5 years, though its long-term downside could be around $19-$20K.
The topic of a spot Bitcoin ETF approval has been all everyone talked about this week, and not without a good reason.
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