Analysts at crypto services provider Matrixport believe that the massive filing of applications to launch spot Bitcoin ETFs is revitalizing the digital asset market and could prove to be a catalyst for a rise in the value of BTC.

Matrixport head of research Markus Thielen told CoinDeskTV viewers that his staff is seeing a lot of “potential buying pressure for BTC,” especially from investors interested in a spot exchange-traded fund offering.

Against this backdrop, Bitcoin’s dominance of the overall digital asset market has risen to 50.2%, the highest in a month and close to the 26-month high of 52% reached at the end of June.

According to Markus Thielen, the driver for the growth of Bitcoin dominance was the filing of an application by BlackRock to create a spot BTC exchange-traded fund. On the afternoon of September 19, the market value of the first cryptocurrency by capitalization showed growth, and the price exceeded $27,000.


Previously, PayPal co-founder and Lightspark CEO David Marcus does not believe that Bitcoin will become a popular method of paying for purchases.