The crypto world is gearing up for a marketing battle over Bitcoin ETFs. Bitwise has already released an advertisement hinting at Bitcoin ETFs before they are even formally approved. Industry experts predict aggressive marketing campaigns as asset managers seek to attract interest and investments into their Bitcoin ETF products once launched.
There is also anticipation around the impact Bitcoin ETFs may have, both positive and potentially negative. On the positive side, retail Bitcoin ETF investors could benefit from institutional-level trade execution and lower fees compared to crypto exchanges. However, crypto exchanges currently spend large amounts on advertising and could see significant revenue declines if volumes shift to ETFs.
In additional crypto news, the CEO of VanEck expects Bitcoin to hit a new all-time high price within 12 months, based on historical price cycles and upcoming technical events like the Bitcoin halving this April. Meanwhile, the SEC continues moving forward with considering Bitcoin ETF filings, clearing initial deadline delays, which is seen as a positive step, even if expectations on near-term approvals remain modest.
With crypto rapidly going mainstream, political lobbying and support also continues to increase. The crypto industry has raised over $78 million to back political candidates friendly to crypto for the 2024 US elections. Federal crypto lobbying spend has already doubled since last year. The future trajectory of crypto will depend heavily on electing politicians that support responsible legislation and regulation around digital assets.
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