Bitwise Asset Management’s spot Bitcoin exchange-traded fund (ETF) has been listed on the Depository Trust & Clearing Corporation (DTCC), joining other major players like BlackRock and Fidelity. While the listing does not guarantee approval from the U.S. Securities and Exchange Commission (SEC), experts predict a bullish market and Bitwise anticipates a new Bitcoin all-time high.

The listing on DTCC is seen as an important step towards regulatory approval in the U.S. for Bitwise’s spot Bitcoin ETF. The inclusion of other spot Bitcoin ETFs from Fidelity and BlackRock on the list suggests growing interest from institutional investors in Bitcoin.

Bitwise’s proactive approach, demonstrated by their re-application for a spot Bitcoin ETF after a previous denial from the SEC, aligns with BlackRock’s filing and indicates a shared resolve among key stakeholders to navigate the regulatory process and launch a spot ETF.

The inclusion of multiple spot Bitcoin ETFs on the DTCC list has sparked rumors of an impending SEC clearance. While regulatory approval is different from listing, positive talks with the SEC are ongoing. Chief Investment Officer of Bitwise Asset Management, Matt Hougan, predicts that as investors seek protection from inflation, Bitcoin prices may rise.

The expected approval of a Bitcoin ETF has already triggered a bullish trend in the market, with Bitcoin trading at $42,837.41 and a positive mood pointing towards $50,000 amid the anticipated Santa Claus rally.

Market analysts at Matrixport anticipate a positive rally, with Bitcoin expected to reach $45,000 by the end of the year and potentially $60,000 before the next halving. Bitwise goes even further, predicting that if spot Bitcoin ETFs are successful, Bitcoin could reach a new all-time high of almost $80,000 in 2024.

While these projections are hopeful, caution is advised due to the unpredictable nature of cryptocurrency markets. Traders should remain vigilant in the face of unforeseen circumstances.

Overall, the listing of Bitwise’s spot Bitcoin ETF on DTCC, along with other major players, signals growing interest from institutional investors and raises hopes for regulatory approval. The market is anticipating a bullish trend, with potential for Bitcoin to reach new all-time highs.