As crypto investors eagerly await the launch of the first spot Bitcoin ETF in the US, a new crypto project offers a way to celebrate and profit from this milestone.
Bitcoin ETF Token ($BTCETF) is a just-announced cryptocurrency for which the supply is linked to major milestones in the Bitcoin ETF launch process. The closer the US gets to having a Bitcoin ETF, the more $BTCETF tokens are burned. After an ETF is launched, $BTCETF burns are tied to the success of Bitcoin ETFs and the price of Bitcoin.
The project offers a fun and potentially lucrative way for crypto enthusiasts to speculate on the Bitcoin ETF approval process and Bitcoin itself. Bitcoin ETF Token has raised more than $20,000 in the first few hours of its presale and looks poised to be the next new crypto to explode after launch.
Bitcoin ETF Token Burns Based on Bitcoin ETF Milestones
Bitcoin ETF Token offers a unique token burn mechanism based on real-world milestones for the expected Bitcoin ETF and Bitcoin itself.
At each milestone, 5% of the total token supply of Bitcoin ETF Token will be removed from the circulating supply and burned. That’s expected to put significant upward pressure on the token’s price since there’s less $BTCETF available to meet demand.
There are 5 milestones that will trigger $BTCETF burns:
- 24-hour trading volume in $BTCETF reaches $100 million
- SEC approves the first Bitcoin ETF in the US
- First Bitcoin ETF launches in the US
- Assets under management in Bitcoin ETFs reaches $1 billion
- Bitcoin price closes a daily candlestick above $100,000
In total, Bitcoin ETF Token will burn 25% of the total supply of 2.1 billion $BTCETF tokens.
Anticipation of these milestones and the ensuing token burns is likely to create strongly bullish conditions for Bitcoin ETF Token. For example, as rumors fly that the SEC is getting close to approving the first Bitcoin ETF, traders are likely to pile into $BTCETF to own the token ahead of the 5% milestone burn.
Sell Tax and Staking Incentivizes Holding for the Entire BTC Journey
In addition to the milestone burns, Bitcoin ETF Token has a built-in sell tax to incentivize holding.
Every time an investor in the $BTCETF presale sells their tokens, a portion of those tokens will automatically be held as tax and burned. This sell tax starts at 5% and is reduced by 1% at each Bitcoin ETF milestone. After all 5 milestones are reached, the sell tax disappears entirely.
This means that investors in $BTCETF who sell early face a 5% tax, while investors who HODL until Bitcoin reaches $100,000 won’t pay any tax at all.
On top of that, investors in Bitcoin ETF Token can stake their $BTCETF and earn rewards. 25% of the total token supply is set aside for staking rewards, although the project has not yet announced an APY for stakers.
Combined with the milestone burns, the sell tax and staking rewards provide strong incentive for investors to hold onto their $BTCETF tokens for the entire journey from Bitcoin ETF launch to Bitcoin’s meteoric rise.
Bitcoin ETF Token Presale Offers 25% Discount for Limited Time
The Bitcoin ETF Token presale is going on now and gives investors a chance to buy $BTCETF at a steep discount.
Investors can purchase $BTCETF during the presale with Ethereum, Tether, or a credit card. The presale will offer a total of 40% of the total supply of $BTCETF.
The presale is split into 10 stages, with the price of $BTCETF increasing incrementally at each stage. During the first stage of the presale, investors can buy $BTCETF at btcetftoken.com for only $0.0050. That’s 26.5% below the planned launch price of $0.0068.
Stage 1 has a cap of $420,000 and will last only 5 days. So, investors have a very limited opportunity to lock in the lowest price for $BTCETF.