Anthony Pompliano Talks About Bitcoin Spot ETF Approvals: “A Show Like No Other”

As the SEC’s Jan. 10 deadline for spot Bitcoin ETF approvals approaches, traders and Wall Street are preparing for what Anthony Pompliano, founder and partner of Pomp Investments, calls “the greatest show on earth.”

In a recent television appearance, Pompliano discussed the palpable anticipation following Bitcoin’s potential ETF launch and underlined the unprecedented enthusiasm gripping the market by drawing comparisons to historic ETF launches such as SPY, USO and gold trust.

“Bitcoin has been the best-performing asset for the last 15 years,” Pompliano said. Pompliano attributed the pent-up excitement to this long-term absence in the cryptocurrency space, highlighting Wall Street’s eagerness to access an asset it had previously been unable to access.

However, he cautioned investors about Bitcoin’s inherent volatility, citing historical examples of significant declines despite impressive long-term gains. “It is by far the most attractive asset in all financial markets, but it comes with a ton of volatility,” he warned.

Discussing the potential impact of ETFs, Pompliano noted the shift in publicly traded funds increasing the trend to allocate up to 15% of their assets under management to Bitcoin ETFs. He suggested that this move could significantly reshape the investment landscape.

On the possibility of the SEC rejecting the spot Bitcoin ETF proposal, Pompliano stated that he remains confident in Bitcoin’s durability. He likened this to previous events where regulatory or environmental challenges temporarily affected the market, but Bitcoin witnessed a strong recovery.

Pompliano remained bullish on Bitcoin’s long-term trajectory. Predicting that “We will see a pretty significant movement in Bitcoin,” Pompliano said that such changes will not necessarily lead to huge gains overnight.

*This is not investment advice.

Source