Many people didn’t know that they could own a fraction of a Bitcoin but ETF will solve this problem

On Jan 7, 2024

VanEck’s advisor explained how the Bitcoin spot ETF products will play an important role to attract more people in the Bitcoin market.

Currently a dozen Bitcoin spot ETF applications are in queue on the table of the United States Securities and Exchange Commission (SEC) to get approval. ETF experts believe that the SEC body will surely approve such products within the next 4 days & these financial products will start trading this Thursday.

On 6 Jan 2024, Gabor Gurbacs, an advisor at VanEck, took to X (formerly Twitter) to share how the mentality of many people works around Bitcoin (BTC).

According to Gabor, a huge fraction of the world population thinks that they can’t purchase a fraction of Bitcoin & this is the reason why they don’t invest in Bitcoin.

Gabor explained that the majority of the Bitcoin spot ETF applicants will issue their Bitcoin investment product with a double-digit NAV, often $25. So, hypothetically the Bitcoin ETFs would launch at $44 per share, removing 3 zeros.

Bitcoin is trading at ~$44,000 today.

ETFs usually launch with a double-digit NAV, often $25. So, say hypothetically that Bitcoin ETFs would launch at $44 per share, removing 3 zeros.

That removes a lot of unit bias. Suddenly Bitcoin exposure looks more affordable.

Simplistic…
— Gabor Gurbacs (@gaborgurbacs) January 6, 2024

Furthermore, Gabor said that it will change the mentality of people and they will consider it more affordable to invest money.

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A Crypto X (Twitter) user shared his response opinion on the VanEck advisor’s point of view and said that he is right because we can see how the trade price of the meme coins surge rapidly, it happens usually when a person can purchase a huge number of tokens for a fraction of a dollar.

It's exactly why meme coins launch with ridiculously large supplies so people feel rich buying billions of tokens with like $300. In their mind they think, when this hits $0.01, I will be a billionaire! Too bad that they will never reach that… It's crazy that it has another…
— Dudek 🛡️ (@jr_dudek) January 6, 2024

Bitcoin spot ETF application rejection chances

On 7 Jan 2024, Bloomberg analyst Eric Balchunas said that the chances of the rejection of Bitcoin spot ETF applications became 5%, which was earlier 10%.

According to Balchunas, these applications may face rejection if the SEC body ignores the court ruling or the Biden administration that interferes in this matter officially.

In short, the Bloomberg expert believes that the SEC body will approve these applications by next week surely

Bloomberg ETF analyst Eric Balchunas said that the probability of failure of the Bitcoin spot ETF has dropped from 10% to only 5%; the reasons for failure include the SEC using new reasons or ignoring court rulings, and the Biden administration to stop it. It is now widely…
— Wu Blockchain (@WuBlockchain) January 7, 2024