Will ETF apporval surge BTC price to 10000$....wat caused alts to bleed badly and Wat is ETF , Lets try to answer these question

So as i promised to let u guys understand wat ETF actually is , ETF stands for Exchange Traded Fund. Virtual currency enthusiasts really want a bitcoin-based exchange-traded fund (ETF) approved by US regulators. Over the past few weeks, since Cboe filed an application with the SEC, so it can list shares backed by the Vaneck Solidx Bitcoin Trust ,the SEC office received a large swathe of opinion letters from more than 90 individuals according to recent reports. The number of responses sent was 10X the amount of opinions written last April during a prior bitcoin ETF decision.

If an ETF judgment is made on August 16 there is well over a month until that date, so a lot could happen to cryptocurrency spot markets between now and that time. People who hope this ETF will happen believe it might be approved because of Cboe’s previous experience with bitcoin futures markets introduced this past December. So far the derivatives markets offered by both Cboe and CME Group have done well, and growing volumes show there is interest in these mainstream cryptocurrency investment vehicles. Arthur Hayes the co-founder and CEO of Bitmex exchange explains on the CNBC broadcast Fast Money that a positive ETF ruling could prime the next massive bull run.