Bitcoin ETF: a distant dream
Thomas Lee, co-founder of Fundstrat, said in an interview that Bitcoin ETFs are a dream that is not close to coming.
The cryptocurrency market and, above all, analysts were always very aware of the conversations that take place around the exit of Bitcoin ETFs. The reason why it occurs is basically speculation of what could happen with the price of Bitcoin if it occurs, and as always the opinions are divided into those who believe that the news would give a "push" to the price and those who believe that most would bet on the low Bitcoin (especially because the "whales" would seek to accumulate at low prices before the price takes off "to the moon").
According to Lee, for the Bitcoin market to have sufficient liquidity to allow the creation of an ETF, the price of Bitcoin should be around USD 150,000. In other words, Lee is saying that the Bitcoin market is too small for large investors to risk their capital at the liquidity levels currently being managed.