Economist and gold bug Peter Schiff expects the approval of spot bi tcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) to be a nonevent. The crypto skeptic explained that there is “really no need for a bitcoin ETF, as you can buy and store bitcoin yourself for free.” He predicted: “There will be minimal investor demand and the speculators who bought on the news will likely sell on the fact.” Schiff Throws Cold Water on Spot Bitcoin ETF Peter Schiff, chief economist at Euro Pacific Asset Management and founder of Schiff Gold, expressed his view on the expected approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) in a series of posts on social media platform X this week. The first deadline this year for the SEC to approve a spot bitcoin ETF is Jan. 10 for a joint proposal from Cathie Wood’s Ark Invest and 21shares. “Be careful what you wish for,” Schiff wrote on X Tuesday. “The promise of a U.S
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