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A leading Bitcoin author predicts that the approval of BlackRock’s Bitcoin ETF will propel Bitcoin’s price, citing compelling reasons.
“This is the core issue they are actively working on now,” he warns.
Author Suggests Potential Price Chaos Following Bitcoin ETF Approval
Prominent Bitcoin author Jason A. Williams explained to his 219,100 followers that there will be a positive uptick in the market should the BlackRock Bitcoin ETF be approved by the US Securities and Exchange Commission:
“When Blackrock’s Bitcoin ETF is approved, they will need to acquire several hundred thousand BTC to fulfill end customer demand.”
However, he warns that “there is no way they can acquire this much Bitcoin without moving the price significantly.”
Learn more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach
There has been several reports on Bitcoin ETF speculation leading to positive movements in the market in recent times.
Bitcoin ETF Speculation In Recent Times
On November 28, CoinShares reported that total crypto inflows for the week have been the highest in the past three months.
“Digital asset investment products saw inflows totaling US$346m last week, the largest weekly inflows in this nine consecutive week run,” the statement noted.
Additionally, the spike was believed to be from all the hype surrounding Bitcoin ETFs.
Furthermore, the rapid jump in inflows between weeks was noted as the largest one in almost two years:
“ETF Anticipation Fuelling the Largest Surge in Inflows Since Late 2021.”
Learn more: Where To Trade Bitcoin Futures: A Comprehensive Guide