JPMorgan Thinks spot Bitcoin ETF Won't Have Much Impact
While the market is seeing these developments quite optimistically, banking giant JPMorgan believes that it won’t have much impact in the crypto space. In its research report on Thursday, July 6, JPMorgan shared a number of reasons behind its Analysis . advertisement Firstly, JPMorgan noted that the SEC is yet to approve an ETF for spot Bitcoin. In the past, the US securities regulator has rejected a number of applications for the spot Bitcoin ETF. However, this time, there’s renewed optimism among investors as they believe that the previous concerns of the SEC have been addressed, notes JPMorgan . Analysts at JPMorgan led by Nikolaos Panigirtzoglou wrote: “Spot bitcoin ETFs [have] existed for some time outside the U.S., in Canada and Europe, but have failed to attract large investor interest”. Spot Bitcoin ETF vs Futures Bitcoin ETF In the report, JPMorgan added that spot Bitcoin ETF will eventually take over the futures Bitcoin ETF. “Spot ETFs are m