Grayscale Launches Original Campaign Pushing SEC Approval Of Spot BTC ETF; BTC To Overtake Gold MarketCap | CryptoGazette
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Despite the massive volatility that we are seeing in the crypto space these days, there are all kinds of optimistic predictions that are more or less based on great things taking place.
Business Insider has just revealed that the world’s largest crypto asset manager has launched a first-of-its-kind campaign to help push for SEC approval of a spot bitcoin ETF.
The move will turn out extremely bullish, according to more voices from the crypto space.
Bitcoin vs. gold
Meanwhile, more and more predictions are saying that Bitcoin’s market cap will surpass the one of gold.
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $37,422.
2022, the tear of mass institutional crypto adoption
It’s been just revealed that from just under 60 in the last quarter of 2021, the number of SEC 13F filings that mention Bitcoin increased to nearly 160 in the first two months of 2022.
“This is the number of SEC 13F filings that mention Bitcoin per quarter, and it’s gone up nearly 3x, and this is for asset managers that manage over $100 million in assets for clients. They have to disclose their equity holdings and other digital asset holdings as well.”
The notes continued and said:
“So remember, smart money is coming Q1 2022. They’re knocking on the door and that going from 58 mentions to 160 is a huge explosion.”
The analyst says that despite the current weakness in the market, the price of Bitcoin will explode once institutional money goes to crypto.
Stay tuned for more news and also make sure to keep your eyes on the crypto market.
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