Bitwise List its Bitcoin ETF on DTCC: Predicts Bitcoin Could Reach $80,000

Bitwise Asset Management, a key player in the cryptocurrency world, is listing its Bitcoin (BTC) ETF on the DTCC with the symbol $BITB. This is a significant step, as it increases the chances of the U.S. approving a spot BTC ETF. Bitwise is joining Fidelity in this advancement, increasingly proving a growing acceptance of cryptocurrencies in mainstream finance.

Matt Hougan from Bitwise stated how they are actively making efforts for this launch. They're also making marketing efforts, talking to the press, and constantly meeting with the SEC to fast-track approvals. Regular discussions with the SEC are crucial for Bitwise's strategy.

People are excited for a U.S. spot Bitcoin ETF, with experts predicting that there’s a 90% chance of SEC approval by January 10. These high hopes are boosted by actions from companies like Bitwise and Fidelity.

The approval of a spot BTC ETF could be a game-changer for the cryptocurrency industry, leading to more institutional involvement and broader Bitcoin adoption.

Bitwise has high hopes for Bitcoin's future, especially in 2024. Their senior analyst, Ryan Rasmussen, thinks Bitcoin could soar to $80,000, which would be an 87% increase. He bases this prediction on two factors: the potential ETF approval and Bitcoin's next halving cycle in April next year. These events could trigger a big rise in Bitcoin's value.

Rasmussen believes the spot Bitcoin ETF will be extremely successful once it is approved. This shows strong confidence in the market’s interest in such a product.

Bitwise's steps and positive predictions mark a significant moment for Bitcoin in the U.S. The possible approval of a spot BTC ETF could lead to a new era of acceptance for cryptocurrencies. The crypto community is hopeful, expecting a bright future for Bitcoin in the global financial scene.