It's hard not to be bullish on Bitcoin (CRYPTO: BTC) in 2024. Last year, Bitcoin was up more than 150% and soundly outperformed every major market benchmark. At a recent price of $45,000, Bitcoin was trading at its highest level since April 2022. On top of all that, anticipation is growing over the upcoming Bitcoin halving event and what that might mean for the future price of Bitcoin.

But that doesn't mean an investment in Bitcoin is without risk. In fact, there might be two major risks investors are overlooking.

The first risk involves the imminent launch of the first spot Bitcoin ETF for the U.S. market. Over the final months of 2023, this looked like a slam-dunk certainty, with many expecting the SEC to approve the first spot Bitcoin ETF in early January. After all, more than a dozen Wall Street firms have submitted ETF applications, and they have been carefully updating and amending these applications as needed.

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Source Fool.com