I am shocked to see some other pages discredit the importance of a BTC ETF. This alone is indication that these so-called professionals do not know their stuff. It should be taken as an indication for the rest of their work. Please be careful with who you trust guys.
Let’s remember that BTC is considered digital Gold. Gold was just a store of value like BTC when it got its ETF approved. When the ETFs were introduced in 2003 (I doubt any of these pages were trading back then) it was revolutionary and completely transformed the market. Price was suddenly rising and sudden news breaking that ETF’s were purchasing more Gold then the banks! An incredible feat in itself which shows the raw buying power they have. Following this we seen Gold go on a 9 year rally where price almost quadrupled (see image above). This is the sort of buying power BTC needs.
Now that we understand the importance of an ETF we can look at the possibility of a BTC one being approved. There are several applications from several different funds. The Winklesvoss ETF was postponed till September and in my opinion is a great sign. It shows they are conducting a mature inspection and contemplating it instead of outright rejecting it. In reality as much as I want it to be approved in September I still think we may see it postponed again to perhaps late Winter. Once they get a hold on how they will deal with the manipulation.