Another attempt at Bitcoin ETF..You knew it was coming once BTC raised above ATH

[rdbase]

With all the talk of another ETF potentially being approved here we go again with the markets getting the 9% pump within hours yesterday with the news that another blockchain entity will be getting their own ETF for cryptocurrency interest is keeping it's high on eager investors into the technology:
https://www.bloomberg.com/news/articles/2024-05-20/ether-jumps-to-lead-crypto-rally-on-etf-approval-speculation

https://www.coindesk.com/policy/2024/05/20/ether-etfs-filing-process-sees-abrupt-progress-though-approval-not-guaranteed-sources

Also in other Bitcoin ETF news, Grayscale's CEO Michael Sonnenshein steps down and lets in a former Goldman Sach's executive take his place at the crypto firm:
https://www.bnnbloomberg.ca/grayscale-s-michael-sonnenshein-steps-down-as-ceo-of-crypto-firm-1.2075083

https://www.cnbc.com/2024/05/20/grayscale-ceo-michael-sonnenshein-steps-down-will-be-replaced-by-goldman-exec.html

[rdbase]

Australia gets their first spot bitcoin ETF with direct BTC Holdings to go live today:
https://www.coindesk.com/policy/2024/06/03/australiass-first-spot-bitcoin-etf-with-direct-btc-holdings-to-go-live-on-tuesday

I remember when they tried to get one approved for their CBOE they swiftly got rejected.
But now they have several of them which is mentioned in the article but neither of those companies offering the spot ETF held any bitcoin.

[rohang]

Australia gets their first spot bitcoin ETF with direct BTC Holdings to go live today:
https://www.coindesk.com/policy/2024/06/03/australiass-first-spot-bitcoin-etf-with-direct-btc-holdings-to-go-live-on-tuesday

I remember when they tried to get one approved for their CBOE they swiftly got rejected.
But now they have several of them which is mentioned in the article but neither of those companies offering the spot ETF held any bitcoin.

Thailand SEC has also approved bitcoin ETF.
https://news.bitcoin.com/thailands-sec-approves-bitcoin-etf-fund-for-wealthy-investors/

BTC rose past 70k today, 71.2k right now, and i think it will hit atleast 80k this month 

[rdbase]

^^
That is some great news as one by one countries all over the world are realizing that ignoring or just flat out denying to add bitcoin to their customers balance sheets is just plan stupid.
If one country has it available and one doesn't, then those brokerage's citizens feel like they are missing out on potential customers if they plan on looking abroad for something their own local financial institutions can not comply with.
SEC are losing ground from their stance on all of crypto and are conceding to the mass market makers.

[peter0425]

Thailand SEC has also approved bitcoin ETF.
https://news.bitcoin.com/thailands-sec-approves-bitcoin-etf-fund-for-wealthy-investors/

Well this is good news especially for Asian crypto investors.

Hong Kong and Thailand are the ones establishing and being at the forefront of paving the way for cryptocurrencies to be considered mainstream in the continent.

Hopefully we see more asian countries follow through.

BTC rose past 70k today, 71.2k right now, and i think it will hit atleast 80k this month 

For bitcoin to reach 80k, I think it needs a little extra push. I wonder what news will it take for investors to start buying as much bitcoin as they can. Maybe another speculative rumor about an etf or something else.

[rdbase]

Why not seeing it as a store of value synopsis, wouldn't that bring more of the retail investors into the ETFs being offered by their country?
Seen a commercial on the American main stream news media CNN during prime time from grayscale to start buying their ETF.

Found this end of last month which should be in one of those commercials targeted at the prime time audience who have millions of Americans watching:
                                                      

[Mr. Magkaisa]

Thailand SEC has also approved bitcoin ETF.
https://news.bitcoin.com/thailands-sec-approves-bitcoin-etf-fund-for-wealthy-investors/

Well this is good news especially for Asian crypto investors.

Hong Kong and Thailand are the ones establishing and being at the forefront of paving the way for cryptocurrencies to be considered mainstream in the continent.

Hopefully we see more asian countries follow through.

BTC rose past 70k today, 71.2k right now, and i think it will hit atleast 80k this month  

For bitcoin to reach 80k, I think it needs a little extra push. I wonder what news will it take for investors to start buying as much bitcoin as they can. Maybe another speculative rumor about an etf or something else.

         -    In these times, more and more countries recognize and adopt cryptocurrency, or bitcoin. It used to be outside of Asia that usually recognized Bitcoin and cryptocurrency, but now it seems that there are more ASEAN countries, right?

Now, when it comes to the market trend in Bitcoin analysis, there has been another trend; we are in an uptrend again now, and I think this month of June will be targeted; the price will be 80k$ each. It can happen either in the middle of this month or before the end of this month, maybe.

[btc78]

I don't know. I am not expecting a lot of impact in this years halving because that is likely to happen just like most of the halving before. But give it months or a year and we will probably see a sudden pump to the Bitcoin market as they feel how the halving will affect everything. It needs to be marinated.

People are so impatient that they want to see drastic changes or growth in bitcoin right after bitcoin but it just doesn’t happen like that. Like you said it needs to be marinated, it will take time and it wouldn’t be a smooth sailing either.

But time will come and we will definitely see some price growth.

It's true that the ETF's entry made a big boosts to the value of Bitcoin but still, we cannot tell what will happen in the future or what the halving's effect will be. This is just a speculation and the hype will probably calm down soon.

I don’t think etf directly influences bitcoin’s price but just the implication that more people are now buying bitcoin even through etf means that general adoption is close and if you want to beat the rest of the world, you should be buying right now.