With the U.S. Securities and Exchange Commission's impending approval of spot bitcoin ETFs, most analysts insist that the first thing to come will be a "buy the rumor, sell the news" effect, meaning the repercussions of the event won't be entirely clear at first.

Speaking to Bloomberg, Nic Carter, founding partner of Castle Island Management LLC, says that despite the fact that for the market the approval of ETFs "is almost certain," it is very likely that, in the immediate future, there will not be a significant instant appreciation in the price of the cryptocurrency.

With these words, the analyst highlights the optimism that has been unleashed among investors in recent months and that has caused a significant rise in the price of BTC, whose value currently oscillates at USD 42,000. Carter isn't sure that upward pace will continue after the derivatives are approved.

"It can happen that the price stagnates or even falls." A possibility that has also been pointed out by JP Morgan analysts, who expect different investors to sell their holdings in BTC to take profits leading to a price pullback.