Spot Bitcoin (BTC) ETF is a Buy the News Event, but Coinbase (COIN) Could be Pressured

Those developments were “buy the rumor, sell the news” events, wrote Morehead Monday. “This time is different,” he said, well aware of the red warning flag typically raised upon utterance of that phrase. Neither of those events, he argued, had any impact on the actual demand for bitcoin. A BlackRock ETF, on the other hand, “fundamentally changes access to bitcoin … It will have a huge (positive) impact.”