Summary
TLDR: The approval of 11 spot bitcoin ETFs by the SEC marks a turning point for digital assets, attracting professional investors. The upcoming fourth Bitcoin halving is expected to be different due to this new investor composition, leading to a more professionally managed market. Institutional investors are likely to play a larger role, bringing in their capital and emphasizing working with trusted counterparties to manage risks. This shift signals a transformative shift in the digital asset industry towards a trusted and professionally-run ecosystem.
Key Points
1. Shortly after Bitcoin’s 15th “birthday” in January 2024, the digital asset community crossed a long-awaited turning point — the US Securities and Exchange Commission’s approval of 11 spot bitcoin ETFs.
2. The community is now bracing for another major milestone in the coming weeks — the fourth Bitcoin halving. Professional investors have entered crypto, which will likely impact the market response to this halving in a unique way.
3. The fourth Bitcoin halving is expected to usher in a new era for Bitcoin, as professional investors bring their capital and expertise to the market, shifting the landscape towards a more trusted and professionally-run ecosystem.