The post Europe Launches a Bitcoin Spot ETF; Will This Elevate the BTC Price Beyond $30,000? appeared first on Coinpedia Fintech News

After the significant win of Ripple over the SEC, the asset management firm has managed to list the very first Bitcoin spot ETF. Jacobi Asset Management, a London-based firm that is regulated by the Guernsey Financial Services Commission (GFSC), listed the world’s first Bitcoin spot ETF on Euronext Amsterdam after two long years of approval. The ETF will trade under the ticker symbol $BCOIN, while custody of the fund is provided by Fidelity Digital Assets, and the market makers will be a trading firm called Flow Traders. 

Besides, the BTC price continues to trade within the same range as the volatility, which continues to trade at 7-month lower levels. The price is experiencing extreme compression and requires a base to trigger a bullish rebound to reach $30,000. However, the launch of the Bitcoin Spot ETF may be the tipping point that lifts the price towards these levels. 

But for how long? Will the bulls manage to hold on to their gains?

One of the popular analysts has written down the Bitcoin price prediction for the next seven days, and it appears the impact of the Bitcoin Spot ETF launch may not have any impact on the price.