U.Today - Renowned crypto investor and founder of Jan3 Samson Mow in the wake of the highly anticipated approval for a spot Bitcoin Exchange Traded Fund (ETF) product.
Samson Mow Bitcoin ETF (TSX:EBIT) theses
According to Samson Mow, many people in the crypto ecosystem do not understand how significant ETF marketing is. He highlighted that the important message for the 12 applicants for the Bitcoin ETF product is to showcase how their offering is the best, a means to get a bigger pie of Assets Under Management (AUM) that will be locked in the new asset class.While the SEC is yet to approve any of for the Bitcoin ETF filed by the likes of BlackRock (NYSE:BLK) and VanEck, competitors like Bitwise have already put out a major advertosement to show the world that Bitcoin is all that matters. Notably, Bitwise featured Jonathan Goldsmith as the star behind the ads. Goldsmith has earned a reputation as an actor, known as the most interesting person in the world.
Samson Mow predicted that more stars would be featured by other competitors to properly usher in the marketing war.
Apart from marketing, Samson Mow believes the era of criticizing Bitcoin will soon be over, as anyone that talks down Bitcoin may be "blacklisted forever."
Will Bitcoin ETF get approved?
A lot is going on in the build-up to the next decision timeline from the U.S. Securities and Exchange Commission (SEC) as relates to Bitcoin spot ETFs. Riding on with the market regulator, most applicants, including BlackRock, are with major compromises revealed in the last batch of amendments submitted by these entities.Most of the asset managers are now succumbing to the SEC's request for "cash creates" means of Bitcoin ETF redemption, and with this compromise, the chances of hitting approval remain high in consonance with the 90% probability set by Bloomberg analysts Eric Balchunas and James Seyffart.