NitroBetting.eu, a prominent Bitcoin-exclusive sportsbook, has recently unveiled a groundbreaking Bitcoin Spot ETF prediction market. This unique platform focuses on predicting the potential approval date of the SEC's Spot ETF and speculates on which ETF sponsor will be the first to receive the green light. The market's published odds suggest that there is a higher likelihood of the SEC approving a Spot BTC ETF by 1/10/2024, with odds sitting at -1667 for approval and +650 against.
Predicting ETF Sponsors
As of now, the most favored scenario, according to simultaneous approval for multiple applicants, stands at -250. Among the potential ETF sponsors, Blackrock is leading the pack as the most favored candidate for standalone approval, with odds of +120. However, Wisdomtree (+2900) and Invesco (+2900) are considered the least favored sponsors by participants in the betting lines provided by Nitrobetting.
Bitcoin Market Optimism
While the bitcoin market has responded positively to the possibility of Spot ETF approval, currently trading around the $42,000 price level, it remains to be seen if this optimism is justified. The introduction of the Spot ETF prediction market aims to offer investors greater clarity and insights into the potential outcome of the SEC's decision.
Nitrobetting.eu stated in a press release to Bitcoin Magazine, "Amidst the anticipation of Spot ETF approval in the U.S., Nitrobetting is thrilled to offer the first-ever betting lines for this event, inviting players to join in and have some fun during this historic time. With over 10+ years in Bitcoin gaming, we're at the forefront of this financial evolution. This is more than betting; it's a celebration of Bitcoin's integration into the mainstream and a milestone for the entire community."
Participate in the Prediction Market
Interested participants can explore the available Bitcoin betting lines on the Nitrobetting website. The lines encompass Spot ETF wagers, 2024 halving price predictions, Bitcoin dominance, and Bitcoin legal tender predictions.
Disclaimer: Nitrobetting is a proud sponsor of Bitcoin Magazine's "The Bitcoin Halving Challenge," a contest where participants can predict the price of bitcoin at the 2024 halving and get a chance to win a share of 1 BTC in prizes.
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By: Bitcoin Magazine
Title: First-Ever Bitcoin Spot ETF Prediction Market: Betting Odds Published By Nitrobetting.eu
Sourced From: bitcoinmagazine.com/business/bitcoin-spot-etf-prediction-market-odds-on-nitrobetting
Published Date: Tue, 19 Dec 2023 14:00:00 GMT
