Pantera CEO Says Bitcoin ETF May Fail to Spark Rally

Pantera CEO Says Bitcoin ETF May Fail to Spark Rally
Pantera Capital CEO Dan Morehead cautioned, in contrast to many crypto bulls, that the start of a bitcoin exchange-traded fund (ETF) may not lead to a rally for the cryptocurrency.“Will someone please remind the day before the bitcoin ETF officially launches?” Morehead wrote in an investor letter on Oct. 6. “I might want to take some chips off the table.”Morehead pointed out that the Wall Street adage “buy the rumor, sell the fact” is currently playing out in the crypto industry. He highlighted how bitcoin rallied over 2,400% before the day that bitcoin futures were listed on the Chicago Mercantile…