Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»ETHEREUM NEWS»Crypto Degens Are Betting Millions on Bitcoin ETF Being Approved
ETHEREUM NEWS

Crypto Degens Are Betting Millions on Bitcoin ETF Being Approved

By Crypto FlexsJanuary 10, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Crypto Degens Are Betting Millions on Bitcoin ETF Being Approved
Share
Facebook Twitter LinkedIn Pinterest Email

Cryptocurrency analysts are increasingly convinced of the position. Bitcoin Exchange-traded funds (ETFs) are expected to be approved this week. a flurry of correspondence It is a transaction between the U.S. Securities and Exchange Commission (SEC) and the operator of the desired ETF. And cryptocurrency gamblers are pouring in more and more cash to bet on what actually happens.

Polymarket, a prediction market that allows cryptocurrency payments, has been launched. Over $6.7 million bet The question is whether a spot Bitcoin ETF will actually be approved by January 15th.

As of this writing, Polymarket users have collectively bet that there is an 85% chance that the SEC will approve a spot Bitcoin ETF by that date. It is currently the largest prediction pool on Polymarket. Who will be the 2024 Republican presidential candidate? in America. There are approximately $5.9 million worth of bets in that prediction pool.

Companies have been trying to get spot Bitcoin ETFs approved in the U.S. for over a decade, but have been consistently thwarted by the SEC, which views such vehicles as a way for customers to be defrauded and fall prey to market manipulation. ETFs allow investors to gain exposure to Bitcoin without actually owning and storing the cryptocurrency.

And the value of Bitcoin 168% surge Over the past year, the current price has been over $46,000. Bitcoin remains down from its late-2021 highs above $69,000, but has rebounded significantly following an extended bear market in 2022 that saw the price of the top cryptocurrency bottom near $15,000 following the FTX collapse.

Cryptocurrency traders thought the SEC had taken action on Tuesday, as the regulator’s official Twitter account said a spot Bitcoin ETF had been approved. However, SEC Chairman Gary Gensler was quick to tweet that the agency’s account I was “compromised” And no such approval has yet been given.

Bitcoin price surged after fake news on Tuesday. Then it fell. As of this writing, the price of Bitcoin is down about 2% on the day.

Despite the false alarms, analysts remain optimistic that approval will come this week. bloomberg ETF analyst Eric Balchunas Tweeted on Tuesday He said he expected an approval announcement Wednesday afternoon ahead of the start of trading on Thursday.

Edited by Ryan Ozawa.

Stay up to date with cryptocurrency news and receive daily updates in your inbox.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Fusaka Update – Information for Blob Users

October 18, 2025

Class action lawsuit claims Microsoft choked AI supply to drive up ChatGPT costs

October 14, 2025

‘OG’ Whale Attracts Over $400 Million in Bearish BTC Bet

October 10, 2025
Add A Comment

Comments are closed.

Recent Posts

Limitless Prediction Market Closes $10M Seed Round Ahead Of LMTS Token Launch

October 20, 2025

Whale.io Introduces Crock Dentist Game And Exclusive RWA NFT Collection

October 20, 2025

Bybit Card Honored As “the Best Performing Crypto Card” By Mastercard At EDGE 2025

October 20, 2025

Jupiter Launches Ultra V3 – The Ultimate Trading Engine For Solana

October 20, 2025

Jiuzi Holdings, Inc Enters Strategic Partnership With BitFi To Advance Bitcoin-Centric Finance

October 20, 2025

DOGE And SOL Join Forces To Mine $5,997 Per Day, Making It Easy To Seize Bitcoin Wealth Together

October 20, 2025

US Bitcoin ETF loses $1.2 billion weekly

October 20, 2025

DAOs are redefining corporations, but the law is not yet ready.

October 20, 2025

BitDCA Staking Agreement Audit Summary

October 19, 2025

ETFs and liquidity drive outlook for 2026

October 19, 2025

5 Best Crypto Flash Crash And Buy The Dip Crypto Bots (2025)

October 18, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Limitless Prediction Market Closes $10M Seed Round Ahead Of LMTS Token Launch

October 20, 2025

Whale.io Introduces Crock Dentist Game And Exclusive RWA NFT Collection

October 20, 2025

Bybit Card Honored As “the Best Performing Crypto Card” By Mastercard At EDGE 2025

October 20, 2025
Most Popular

Cardano (ADA), Solana (SOL), and Polkadot (DOT) Soar — Is It Alt Season?

December 14, 2023

Taiko Trailblazers: Season 1 Claiming Period Now Open

October 13, 2024

NFT wash trading volume on the Ethereum marketplace has hit its lowest level in over a year.

January 16, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.