![thumb.jpg](https://i.imgur.com/VhL0V7Q.jpg)

[source]( https://www.deraktionaer.de/artikel/technischeanalyse/bitcoin-mit-blitz-rally-die-hintergruende-20241312.html)


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After the weekend shock and the on holding fear of interest rates hike, let’s take a look at some positive news for crypto to start off the week in a lighter mood! In this article we will talk about potential Bitcoin Spot ETFs and why they finally might get approved, furthermore we will discuss why this would have implications on the overall crypto market and finally talk about Coinbase’s expansion movements.


### Bitcoin ETFs Coming Soon To The US?
One of the biggest institutional crypto players out there is without a doubt Grayscale. This company is has several crypto trusts and is currently filling for a spot Bitcoin ETF once again. For those who don’t know, a Spot Bitcoin ETF would be backed by actual BTC and not like the current Futures Backed ETFs that are basically backed by Fiat money. Many critics are not believing in a successful approval of this ETF once again, since so many request for such an ETF was denied by the SEC in the US. This time it is supposed to have a completely different outcome. Grayscale is pushing the SEC to an approval. They already announced that a recently approved futures backed ETF opens the door for a spot Bitcoin ETF and Grayscale is ready to sue the SEC if their request gets denied once again. What makes the Grayscale request different from others is yet to be determined but one of the biggest arguments would probably be their already existing BTC trust with over 25 billion USD worth of Bitcoin in it.

What makes it so interesting is that there are already existing Bitcoin spot ETFs in existence. Some of them are already available in Canada and other will be available on this Wednesday in Australia. Three Crypto spot ETFs are supposed to be listed, from which two are being for BTC and one will be for Ethereum. Like mentioned before, all three of them will be backed by physical crypto and not the futures version of it. This announcement could really be a catalyst for the crypto markets this week. Not only would the demand in Bitcoin and Ethereum raise but there would also be some pressure on the US authorities to finally approve a product that other countries seem to provide.


### Coinbase’s Movements
Furthermore, we need to talk about Coinbase and their current expansion. Apparently, they are looking into taking over the biggest Turkish crypto exchange platform as well as one of the biggest Brazilian ones. This shows that Coinbase wants to expand their reach and continue to push the adoption of crypto. Not only that but they also have an upcoming NFT marketplace which is already in Beta. This marketplace will have elements of Social Media and will be available for people over 18 years of age. This also means that KYC will be required but there will be no requirement for having a Coinbase Account. This marketplace is planned to be run on the base of the Ethereum network and will hopefully have similar fees as OpenSea. With more competition on the NFT marketplace application market, it will be interesting to see which platform will get the most users and will establish themselves. Saying that, some competition is always great for the end user to have the best product and the lowest fees.


### Conclusion
All in all, I think that we could see an amazing week for crypto. Not only could Coinbase’s expansion lead to more crypto exposure but a potential spot Bitcoin ETF in the US could mean an amazing demand for BTC. Furthermore, we will see the Australian crypto ETFs released which will also have a great impact on the markets. I hope that these news will light up the start of the week! 😊



Published by ga38jem on
LeoFinance
On 25th April 2022
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Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@ga38jem/spot-bitcoin-etf-catalyst-for-another-rally)