First Bitcoin Spot ETF Prediction Market, Betting Odds Published by Nitrobetting.eu

December 19, 2023 –

NitroBetting.eu, a prominent Bitcoin-only sportsbook, has just launched its first Bitcoin spot ETF betting line. A new prediction market is focused on speculation about the SEC’s potential cash ETF approval date and which ETF sponsors will be the first to receive approval. According to published odds, the market believes the SEC is more likely to approve the Spot BTC ETF by January 10, 2024, with odds of -1667 in favor and +650 odds against.

Regarding ETF sponsors, as of this writing, simultaneous approval for multiple applicants is the most preferred scenario (-250), with Blackrock leading as the most preferred scenario for standalone approval (+120). Of all the potential Spot ETF sponsors, Wisdomtree (+2900) and Invesco (+2900) are the least favorites among betting line participants, according to the Nitrobetting website.

The Bitcoin market appears to be reacting positively to the possibility of a spot ETF being approved (currently priced around $42,000), but it remains to be seen whether the optimism is warranted. A new spot ETF prediction market could help provide greater clarity to investors.

Nitrobetting.eu said in a statement to Bitcoin Magazine: “With Spot ETF approval expected in the U.S., Nitrobetting is excited to offer the first betting line for this event. It’s fun in these historical times.

With over 10 years of experience in Bitcoin gaming, we are at the forefront of these financial developments. This is more than a bet. “This celebrates Bitcoin’s integration into the mainstream and is a milestone for the entire community.”

Interested participants can view the available Bitcoin betting lines on the Nitrobetting website. Lines include spot ETF bets, 2024 halving price predictions, Bitcoin dominance, and Bitcoin fiat bid predictions.

Disclaimer: Nitrobetting is a sponsor of Bitcoin Magazine’s “Bitcoin Halving Challenge”, a contest where participants can guess the Bitcoin price for the 2024 halving and win a prize of 1 BTC.