Halving Will Increase Interest in Bitcoin Spot ETFs
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Halving Will Increase Interest in Bitcoin Spot ETFs
As previously reported, Bitwise CIO Matt Hougan said the extraordinary demand for Bitcoin spot ETFs over the past two months would likely continue for years.
The executive highlighted highlights from his interactions with investors and capital allocators interested in purchasing ETFs managed by Bitwise. Through X's social media posts, Hougan explained that there was a large spread in the speed of bitcoin ETF adoption.
While some financial advisors and national account platforms have started using the product as early as possible, others have not yet considered any portfolio allocations for their clients or will not activate the product on their platforms until next year.
“In fact, most professional investors still cannot buy a bitcoin ETF. This will change through a series of more than 100 individual due diligence processes over the next two years,” said Hougan, quoted from Decrypt, written Saturday (30/3/2024) .
Since its launch on January 11, the Bitcoin ETF has absorbed net inflows of USD 11.7 billion or the equivalent of IDR 185.6 trillion (assuming an exchange rate of IDR 15,866 per US dollar), although it also takes into account more than USD 14.3 billion or the equivalent of IDR 226 trillion. .8 trillion legacy BTC outflow from the Grayscale Bitcoin Trust (GBTC).
On Tuesday, the Bitcoin ETF received inflows of USD 418 million or the equivalent of another IDR 6.6 trillion, including USD 16.7 million for the Bitwise Bitcoin ETF. Such inflows already represent a huge increase compared to previous years when the money in institutional Bitcoin funds was nothing compared to today.
Halving Will Increase Interest in Bitcoin Spot ETFs
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