What Happened: On Tuesday, influential investor Peter Schiff expressed his skepticism about the anticipated demand for a new Bitcoin ETF. He suggested that the number of Bitcoin (CRYPTO: BTC) speculators ready to sell far outpaces the would-be buyers waiting for the ETF.
Schiff’s post on X, formerly Twitter, comes amidst high speculation around a possible Bitcoin ETF approval by the Securities and Exchange Commission (SEC). The frenzy surrounding the approval has led to the apex cryptocurrency shooting up 19.9% over the week. At the time of publishing it was seen trading nearly 1.1% higher intraday at $33.979.26.
Bitcoin speculators have over-estimated the demand for a new #BitcoinETF. It's hard to believe that with so many existing ways to gain exposure to #Bitcoin, that there's a large group of would-be buyers who've been waiting to buy. ...