A federal appeals court handed Grayscale a monumental victory in its path to converting its bitcoin trust (GBTC) into a spot bitcoin ETF. Crypto traders are doubling down on bullish sentiments as this decision could change the tide for broadened crypto asset exposures in the future.
Swan Bitcoin Managing Director Terrence Yang joins Yahoo Finance Live to discuss the volatility to come in the crypto market.
"Too many bulls... that think the ETF will be approved ASAP or in the next several weeks," Yang says. "I'm not sure we are going to see a launch of any bitcoin, I don't think we'll see we will be a launch of any spot bitcoin ETF before year-end and I'm happy to bet people on this, I've been... goading some of the hopium bros on Twitter to bet against me."
Yang also comments on the potential for bitcoin price manipulation and how Wall Street firms like BlackRock (BLK) may adopt bitcoin ETF investments.
