Back-story of me: up until a couple years ago I was a Portfolio Manager for the largest hedge fund in Colorado. I’ve been in and around the stock world since the early-90’s and successfully traded through the 2007–2009 financial crisis. I started watching Bitcoin early, very early in fact, and I’ve made tens of thousands of Crypto trades over the past 5 years with overall much success. Enough about me though.
However, Wall Street logic says to first rally everything back up to highs and maybe get it going a bit higher beyond there before finally announcing that the ETF’s are approved. From there, the media go crazy, the public goes crazy and the prices of Cryptos would go insane for a bit before the actual ETF’s start trading. HOWEVER, the day the actual ETF’s start trading could likely be THE top for months and possibly years. It would be a completely typical Wall Street move, reminiscent of many hyped up IPO’s which fizzled on day 1 as Wall Street sells what they’ve been accumulating for awhile to the eagerly-buying public.