[ad_1]
Spot Bitcoin ETFs, which have been trading for just two months, have already made a significant impact on the cryptocurrency industry.
GSR Research Analyst Brian Rudick said in his statement on the subject:
“US spot Bitcoin ETFs have been a huge success, beyond even the most optimistic expectations. “With over $10 billion in inflows in just two months, it’s approaching what most people think they’ll make in the first year.”
Rudick also added that there are arguments for increasing fund inflows to ETFs, such as increasing sales efforts of companies, adding asset managers to their product range and normalizing GBTC outflows.
Scott Johnsson, General Partner at Van Buren Capital, compared the launch of Bitcoin ETFs to the launch of the first gold ETF in 2004. The analyst initially expected modest flows in the range of $50 million per day. But the facts went far beyond their expectations:
“I think we’re now at a point where we can say with certainty that my expectations have been misplaced. Compared to the first gold ETF, daily net inflows have been extraordinarily strong on a relative (% of assets managed or % of total inflows to date) and absolute basis.”
Johnsson still thinks the emergence of the Bitcoin ETF category will be similar to the adoption of a GLD-like product but on a much faster timeline:
“While it took nearly a decade for a gold ETF to reach saturation, spot BTC ETFs could do the same in much less time. “It doesn’t mean there won’t be highs/lows along the way, but what we’ve seen so far is truly incredible.”
*This is not investment advice.
[ad_2]
