Crypto Market ‘Dramatically Underestimates’ Bullishness of Spot Bitcoin ETFs

Analysts from crypto research firm K33, previously known as Arcane Research, have stated that the crypto market significantly underestimates the impact of a potential spot Bitcoin (BTC) exchange-traded fund (ETF) approval on prices.

In their market report dated September 5, K33 senior analyst Vetle Lunde and vice president Anders Helseth noted that the prospects for a spot Bitcoin ETF approval have improved considerably over the past three months. However, this positive sentiment has not yet been reflected in the prices of Bitcoin or other major cryptocurrencies.

Additionally, it has been suggested that Ethereum (ETH) is positioned to outperform Bitcoin in the near future.