The long-awaited spot Bitcoin ETF has stepped closer to reality in the past month as investors eagerly await SEC approval.
Analysts predict that the launch of one of these funds could inject billions into the crypto market, helping boost asset prices across the board.
Now, a brand-new crypto called Bitcoin ETF Token (BTCETF) has been launched, offering a way for investors to capitalize on the ongoing hype – while offering staking APYs of over 5,000%.
The Bitcoin ETF Token aims to take advantage of potential BTC ETF approvals through deflationary tokenomics based on burns, taxes, and staking rewards.
As an ERC-20 token on Ethereum, BTCETF is conducting a presale offering 40% of the total supply of 2.1 billion tokens to establish an engaged community of early adopters.
The presale provides a discounted entry point of just $0.005 per token before any potential ETF frenzy hits the market.
A vital feature of the Bitcoin ETF Token is its staking protocol, with 25% of the supply allocated to staking rewards to promote network stability.
Currently, BTCETF holders can pledge their tokens and earn yields of 5,497% per year – with over 5.7 million tokens locked up already.
Bitcoin ETF Token also implements a 5% transaction burn tax to reduce the total supply over time.
This tax is designed to decrease by 1% with each significant BTC ETF milestone reached – with a plan to phase out completely when the Bitcoin price hits $100,000.
Bitcoin ETF Token’s selling tax will dovetail with the regular burn schedule that seeks to reduce the total token supply by up to 25%.
As outlined in Bitcoin ETF Token’s whitepaper, five major milestones have been specified that relate to ETF approval – for example, ETF assets under management (AUM) hitting $1 billion.
When each milestone has been hit, Bitcoin ETF Token’s team will permanently destroy 5% of the total BTCETF supply.
Therefore, if all five milestones are reached, the supply will drop from 2.1 billion tokens to 1.57 billion tokens.
This potential 25% reduction through burns provides long-lasting value to token holders.
Additionally, the burns discourage flipping for quick profits, which has the bonus of improving price stability once BTCETF is listed on the open market.
Thus, by aligning token holder interests with major crypto adoption milestones, Bitcoin ETF Token seeks to capitalize on the coming BTC ETF rush.
On its first day, the Bitcoin ETF Token presale at btcetftoken.com attracted over $35,000 in investments, highlighting significant interest in the project and the anticipated Bitcoin ETF milestones.
This hype is evidenced by Google Trends data, which shows a massive increase in searches for “spot Bitcoin ETF” in the past 30 days.
Once DEX listings commence after Bitcoin ETF Token’s presale ends, many early backers believe the token could be poised for substantial growth.
Any positive updates related to the SEC’s ETF decision will likely have a knock-on effect on BTCETF’s value, given that it is a speculative token.
Moreover, with deflationary pressure reducing selling, the positive effects could be doubled.
As the early presale figures indicate, Bitcoin ETF Token represents a rare opportunity to align with a potentially revolutionary crypto market milestone.
With such a promising start, the BTCETF presale will be closely watched in the coming weeks to see if it can live up to the initial hype.
Visit Bitcoin ETF Token Presale
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The project in the above article is not related to Bitcoin or to a Bitcoin ETF. It’s a completely different token.
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