Large Asset Managers Getting Ready to Buy BTC Ahead of Spot Bitcoin ETF Launches, Says Moody’s Director
A senior director with Moody’s Analytics has highlighted the biggest driver behind the recent bitcoin price surge. “The race is heating up” to launch spot bitcoin exchange-traded funds (ETFs), he explained, emphasizing that large asset managers are “getting ready to acquire the underlying asset to offer the ETF to retail and institutional investors.” Biggest Driver Behind Bitcoin Price Surge Yiannis Giokas, a senior director with Moody’s Analytics, has provided insights into the factors behind the recent surge in bitcoin’s price, highlighting the anticipated approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Moody’s Analytics is a subsidiary of Moody’s Corp. that focuses on non-rating activities. “The biggest driver behind the surge in bitcoin price is likely the number of applications for spot BTC ETF which are expected to be approved by the SEC January,” the director said in an email to Bitcoin News. He added: The race i