First-Ever Bitcoin Spot ETF Prediction Market, Betting Odds Published By Nitrobetting.eu
December 19, 2023 – NitroBetting.eu, a prominent Bitcoin-exclusive sportsbook, just released the first-of-their-kind Bitcoin Spot ETF betting lines. The new prediction market is focused on the SEC’s potential Spot ETF ap...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
December 19, 2023 –
NitroBetting.eu, a prominent Bitcoin-exclusive sportsbook, just released the first-of-their-kind Bitcoin Spot ETF betting lines. The new prediction market is focused on the SEC’s potential Spot ETF approval date, as well as speculation on which ETF sponsor will be the first to receive approval. According to the published odds, the market thinks it more likely than not that the SEC approves a Spot BTC ETF by 1/10/2024, with odds sitting at -1667 for, and +650 against.
With regard to ETF sponsors, at the time of writing, simultaneous approval for multiple applicants is the most favored scenario (-250), with Blackrock leading the pack as most favored for standalone approval (+120). Of all the potential Spot ETF sponsors, Wisdomtree (+2900) and Invesco (+2900) are the least favored by betting line participants per the Nitrobetting website:
SourceWhile the bitcoin market has seemingly reacted positively to potential Spot ETF approval -- currently trading around the $42,000 price level -- it remains to be seen if the optimism is warranted. The new Spot ETF prediction market may help to provide greater clarity for investors.
In a statement submitted to Bitcoin Magazine, Nitrobetting.eu said the following: “Amidst the anticipation of Spot ETF approval in the U.S., Nitrobetting is thrilled to offer the first-ever betting lines for this event, inviting players to join in and have some fun in this historic time.
With over 10+ years in Bitcoin gaming, we’re at the forefront of this financial evolution. This is more than betting; it’s a celebration of Bitcoin’s integration into the mainstream and a milestone for the entire community.”
Interested participants can view available Bitcoin betting lines at the Nitrobetting website. Lines include Spot ETF wagers, 2024 halving price predictions, Bitcoin dominance, and Bitcoin legal tender predictions.
Disclaimer: Nitrobetting is a sponsor of Bitcoin Magazine’s “The Bitcoin Halving Challenge”, a contest for participants to guess the price of bitcoin at the 2024 halving for a chance to win a share of 1 BTC in prizes.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin MagazineRelated market context
Robinhood Crypto Revenue Falls 55% as Prediction Markets Support Growth
TL;DR: Robinhood reported third-quarter 2026 results on October 27, with total net revenue of about $1.42 billion, up 12% from the...
Coinbase Says Prediction Markets Are Now a $200 Million-a-Year Business Despite a Slow Crypto Quarter
Coinbase’s prediction markets business is now bringing in more than $200 million a year on an annualized basis, while the number o...
Broadridge sees growth potential in tokenization despite challenges
Broadridge's tokenization efforts highlight the potential for significant efficiency gains in financial markets, despite operation...
Binance investigates potential multibillion-dollar hack
Binance said it is investigating a potential security breach after suspicious wallet transfers, while co-founder CZ reported nearl...
Ethena flags potential security incident involving Binance, says collateral sits off-exchange
Ethena's off-exchange collateral strategy highlights the importance of robust custody solutions to mitigate risks from exchange-re...
Bitcoin Slips Below $80,000 After Fed Holds Rates and Tech Shares Weaken
TL;DR: Bitcoin slipped below $80,000 in early October 29 trading as markets digested the Federal Reserve’s decision to leave rates...