Cameron Winklevoss – Co-Founder and President of the crypto exchange Gemini – thinks that the “massive accumulation of bitcoin has begun.”
He believes that the asset will go on a big uptrend once the BTC Spot ETF receives approval in the United States. Thus, he labeled it as “the clearest and best trade of this decade.”
An Accumulation Window
BlackRock’s ETF efforts have completely changed the short-term landscape for Bitcoin. The world’s largest asset manager filed with the US Securities and Exchange Commission (SEC) to launch a spot BTC ETF in the States. The move has sparked optimism in the crypto space and seems to be one of the main reasons behind Bitcoin’s subsequent rally.
The leading digital asset recently surpassed the $30,000 level, touching a two-month high. Its market capitalization exceeds $580 billion (per CoinGecko data).
According to Gemini President Cameron Winklevoss, investors are starting to accumulate assets in large numbers. He thinks that people willing to join the ecosystem should do so before BTC ETFs see the light of day.
He added, describing the asset as “the best investment of the last decade” and “the clearest and best trade” of the next ten years.
The Great Accumulation of bitcoin has begun. Anyone watching the frenzy of ETF filings understands the window to buy pre-IPO bitcoin before ETFs go live and open the floodgates is closing fast. If bitcoin is the most obvious and best investment of the last decade, it…
— Cameron Winklevoss (@cameron) June 21, 2023
It’s not just BlackRock
Many investment companies, including Invesco and WisdomTree, follow suit reactivated their attempts to introduce a fund that allows customers to invest in the actual market price of Bitcoin without having to own (and store) the asset.
Asset management firm – Valkyrie – has also jumped on the bandwagon, saying its ETF will trade under the symbol “BRRR” if it receives a positive nod from the SEC.
BlackRock has so far filed for 575 ETF applications, of which only one has been rejected.
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