Goldman Sachs: Even if the spot Bitcoin ETF is approved, Bitcoin will not skyrocket immediately

According to News.bitcoin, global investment bank Goldman Sachs advises investors not to expect a sudden surge in Bitcoin prices after the U.S. SEC approves a spot Bitcoin ETF. Nevertheless, Goldman Sachs emphasizes that the ability of "actua l trading people are familiar with and can provide scale products" is "very positive".

 

Goldman Sachs' head of digital assets, Mathew McDermott, stressed that the approval of an ETF is not expected to trigger a "sudden surge in liquidity and price", but it could attract new institutional investors into this asset class. He believes that the ability to actually trade products people are familiar with and can provide scale is very positive.

 

McDermott said that due to m arket expectations that the SEC will soon approve applications for spot Bitcoin ETFs, the investment bank has also observed growing customer interest in cryptocurrency derivatives trading. He pointed out that cryptocurrency is still a "very very small market," but he stated: Of course, as excitement about potential bitcoin ETFs grows in the market, so does people's interest.