Bitwise CIO Predicts Potential Trillion-Dollar Inflows into Bitcoin Spot ETFs
Hougan’s bullish prediction is based on Bitcoin’s impressive growth of nearly 300% over the past 15 months.
Hougan’s bullish prediction is based on Bitcoin’s impressive growth of nearly 300% over the past 15 months.
US’s success with Bitcoin ETFs challenges Japan’s stricter regulations on crypto investment products.
The prospect of spot Bitcoin ETFs gaining approval in Hong Kong represents a significant step toward the mainstream adoption of digital assets in the region.
The Bitcoin ETF market continues to see new competitors. Hashdex, a crypto asset management firm, announced its futures fund’s transformation into a spot product.
The Bitcoin market is expected to continue to grow and mature as more investors look for exposure to BTC through spot ETFs and other investment vehicles.
Grayscale’s BTC holding was down to 361.79K, from 624.28K Bitcoins it held by January 11, before ETF conversion.
Despite the strong outflows from Bitcoin ETFs, Bitcoin price bounced back above $67,000 following the dovish stand by the Fed. Analysts remain hopeful before the Bitcoin halving next month.
The delay by the US SEC on the VanEck spot Ether ETF coincides with reports about the agency investigating the Ethereum Foundation with claims of violating securities laws through its ICO.
Grayscale’s GBTC cash outflow is expected to continue in the coming weeks despite the recent move to save its clients.
James Seyffart pointed out that the US SEC has not engaged the spot Ether ETF applicants in any way like Bitcoin’s earlier this year.