{"id":23652,"date":"2023-09-25T05:07:18","date_gmt":"2023-09-25T05:07:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/willy-woo-on-how-synthetic-etfs-shape-bitcoins-price-landscape\/"},"modified":"2023-09-25T05:07:18","modified_gmt":"2023-09-25T05:07:18","slug":"willy-woo-on-how-synthetic-etfs-shape-bitcoins-price-landscape","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/willy-woo-on-how-synthetic-etfs-shape-bitcoins-price-landscape\/","title":{"rendered":"Willy Woo on How Synthetic ETFs Shape Bitcoin’s Price Landscape"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Willy Woo, a well-regarded and widely followed on-chain analyst, recently shared his views on Bitcoin\u2019s valuation on platform X. He primarily attributed the perceived undervaluation of Bitcoin<\/a> to the prevalence of \u201csynthetic ETFs\u201d or futures contracts. This notion challenges some of the widespread beliefs about the cryptocurrency\u2019s pricing dynamics.<\/p>\n

Woo specifically addressed<\/a> the popular sentiment that purchasing large amounts of BTC on exchanges would result in a price surge. In response, he stated:<\/p>\n

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\u201cNO! This is a fallacy. This happened all through the 2022 bear.\u201d<\/em><\/p>\n

He further elaborated that such buying sprees don\u2019t lead to the expected supply shock. The main reason, according to Woo, is the introduction of synthetic BTC through futures markets. He mentioned:<\/p>\n

\u201cThe market made a bottom when futures markets relented.\u201d<\/em><\/p>\n

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Woo went on to explain the choices available for potential BTC investors. He said that those wanting exposure to BTC often consider a futures ETF as a viable option. However, he emphasized that these don\u2019t cause the expected market impact:<\/p>\n

\u201cThis doesn\u2019t create a supply shock as these are just paper bets on price going up, a hedge fund can take the other side of the bet, you\u2019ve minted a new synthetic BTC. And the limit on this is infinite.\u201d<\/em><\/p>\n

To navigate this situation, Woo recommended the approval and adoption of a spot ETF. He passionately expressed:<\/p>\n

\u201cA spot ETF will help rectify this issue.\u201d<\/em><\/p>\n

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Voicing his concerns and frustrations, Woo pointed out the prolonged delay by the SEC in approving a spot ETF. This is despite the futures markets flourishing for seven years. He critically noted:<\/p>\n

\u201cFor 7 years the spot ETF has been denied, while futures markets have flourished. The SEC\u2019s agenda has been very clear.\u201d<\/em><\/p>\n<\/p><\/div>\n