Bitcoin recently underwent its fourth halving, reducing block rewards to 3.125 BTC. While some doubt its impact, there are other reasons to feel optimistic about Bitcoin’s future.

ETF Progress:

In January, the US Securities and Exchange Commission approved nearly a dozen spot Bitcoin ETFs. These ETFs, like BlackRock’s IBIT and Fidelity’s FBTC, attracted significant investment, driving up Bitcoin’s value. However, inflows slowed, causing a price drop. Reports suggest ETFs are crucial for Bitcoin’s growth.

US Banking Support:

BNY Mellon, a long-time cryptocurrency supporter, revealed exposure to US spot Bitcoin ETFs. Similarly, Morgan Stanley is considering allowing its brokers to recommend Bitcoin ETFs to clients, potentially expanding Bitcoin’s reach.

International Expansion:

Outside the US, Hong Kong is preparing to launch its own Bitcoin and Ethereum ETFs. Analysts predict this move will influence Asian markets positively, leading to further ETF adoption across the continent.

In conclusion, despite uncertainties surrounding Bitcoin’s halving, developments like ETF approvals and international expansion offer hope for its future growth.