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The Cryptonews YouTube channel highlights Bitcoin ETF Token’s rewarding mechanism and the potential for spot Bitcoin ETF approval in 2024.
The host talks about the reasons behind the delayed launch of the Bitcoin ETF, a much-anticipated event for crypto enthusiasts and investors, emphasizing the significant involvement of institutions like BlackRock.
Bitcoin ETFs poised for approval amid growing institutional interest and BlackRock’s entry
The crypto industry is closely monitoring the SEC’s eight-day period to approve 12 spot Bitcoin ETFs from various issuers, including BlackRock and Fidelity.
BlackRock, recognizing the potential of spot Bitcoin ETFs as investment products, filed an application with the SEC to launch its own. This application is currently under review and, if approved, would significantly boost the spot Bitcoin ETF market.
BlackRock’s reputation and credibility could legitimize these ETFs and attract more investors. Despite the SEC’s ongoing review, several encouraging developments suggest that approval of spot Bitcoin ETFs is approaching.
The increasing interest from institutional investors, reflected in numerous asset management firms filing spot Bitcoin ETF applications, underscores the strong demand for these products, likely influencing the SEC’s decision.
While the SEC remains cautious about market manipulation and anti-money laundering (AML) concerns, it has expressed openness to approving spot Bitcoin ETFs. It is likely that the SEC will require ETF issuers to implement stringent safeguards to address these concerns.
Overall, the outlook for spot Bitcoin ETFs is positive, with the SEC considering approval and institutional investors showing strong demand. However, the timing of the SEC’s decision remains uncertain due to factors such as its workload, AML and market manipulation concerns, and overall market conditions.
Despite these uncertainties, BlackRock’s involvement could be a major catalyst for the spot Bitcoin ETF market, bolstering its overall outlook.
New ERC-20 token already raised over $700,000 – The next big thing?
The idea of a spot Bitcoin ETF and big players like BlackRock getting into the crypto scene has been a major positive factor for the market lately.
The increase in Bitcoin’s price, reaching $38,000 in November and going up by 35% in the past month, has also encouraged other cryptocurrencies and new meme coins like Bitcoin ETF Token (ETF).
With FOMO (Fear of Missing Out) on the rise, the new Bitcoin ETF Token, available in presale now, has gathered $700,000 as traders increasingly view it as one of the best ways to benefit from the positive trend related to spot Bitcoin ETFs.
The second stage of the Bitcoin ETF Token presale ends in less than 24 hours. After this, the price of $BTCETF will increase in Stage 3 from $0.0052 to $0.0054. It’s crucial to act quickly to buy the Bitcoin ETF Token, considering the optimistic sentiment in the market regarding ETF approvals and the ongoing bull cycle due to halving.
Stage 2 in the #BitcoinETF ride wraps up in less than a day! 🕒 Brace yourself for the finish line! ✅ pic.twitter.com/cHoaWtEMzs
— BTCETF_Token (@BTCETF_Token) November 15, 2023
The presale occurs directly on the Bitcoin ETF Token website, accepting payments in ETH, USDT, or through credit or debit cards. In the presale, 840 million $BTCETF tokens are available, making up 40% of the total supply. For those interested in investing, our guide on how to buy Bitcoin ETF Token is available here.
The presale adopts a tiered pricing approach, starting at $0.005 per token and increasing over ten stages at specific milestones. Early participants get the best prices because of this structure. The presale has a fixed hard cap of $4.9 million and concludes once this limit is reached.
After the presale, the creators plan to launch the tokens on decentralized exchanges (DEXs) to make them more accessible.
Bitcoin ETF Token (BTCETF): A deflationary token with high APY staking rewards
BTCETF is an ERC-20 token that will be available on the popular decentralized exchange, Uniswap, upon its launch. The total number of BTCETF tokens will be 2.1 billion. A presale will account for 40% of the tokens, 25% will be allocated to staking rewards, 10% to liquidity pools, and 25% will undergo burning.
For more information, see our guide to the best staking platforms here.
The Bitcoin ETF Token operates on a deflationary model, integrating a burn mechanism to support its price by reducing the overall token supply. At launch, a 5% burn will be applicable to all transactions, and up to 25% of the total token supply could potentially be burned.
Real-world events, such as the approval of the first spot Bitcoin ETF, trigger the burning of BTCETF tokens. Other triggers are linked to the performance of BTCETF, like when its trading volume reaches $100 million.
BTCETF incorporates a staking mechanism as well. Staking $BTCETF allows you to earn an annual percentage yield (APY) of 355%. Currently, 81 million $BTCETF tokens have been staked. The APY of BTCETF is dynamically calculated and varies based on the amount staked.
Rewards, paid in $BTCETF, are distributed over a five-year period. Each ETH block generates a reward of 119 $BTCETF.
Take part in the $BTCETF token resale at btcetftoken.com.
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