- Doctor Profit and Justin Sun anticipates China joining the crypto ETF race post-SEC approval.
- Hong Kong legislator urges swift implementation, emphasizing the region’s pioneering role.
- Global optimism grows as SEC approval signals transformative potential for cryptocurrencies.
Just before the Bitcoin ETF approval, popular bitcoin price analyst Doctor Profit foresaw the eventual approval. In addition, he predicted the coming of China’s Bitcoin ETF approvals as well. Now the Bitcoin ETF in the USA has been approved and Tron CEO, Justin Sun hints at China ETF as well.
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Tron Founder Justin Sun anticipates China’s entry into the crypto ETF space following the SEC’s approval of Spot Bitcoin ETFs. The approval signals broader global acceptance, with Sun highlighting the potential for China to participate in the Spot Bitcoin ETF sector.
The SEC’s decision is seen as a pivotal moment, contributing to last year’s crypto market rally and a 160% gain in Bitcoin price in 2023. Sun, a prominent figure in the crypto community, celebrates the ETF approval and envisions widespread adoption in Asian markets, particularly China, eventually reaching a global population of eight billion.
The sentiment echoes in Hong Kong, where Legislative Council member Johnny Ng urges swift implementation of Spot Bitcoin ETFs, emphasizing the SAR government’s role in taking the lead in the virtual asset industry. Ng also emphasizes the need for comprehensive education on virtual assets to enhance awareness and mitigate associated risks.
The global anticipation for similar approvals in various countries reflects a growing acknowledgment of cryptocurrencies’ transformative potential in mainstream finance. As the crypto landscape evolves, stakeholders worldwide eagerly await regulatory developments that could further propel crypto adoption on a global scale.
So far, the Bitcoin ETF approval has been very promising in the USA. On its first day, it ushered $4.6 billion in value. At the moment the SEC is facing criticism from Elizabeth Warren for their Bitcoin ETF decision.
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