News

Bitcoin ETF See Less Traction as the $8 Trillion Market Moves Beyond Crypto

cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk

The hype around Bitcoin ETFs has kept almost all newly launched exchange-traded funds afloat. However, a slow shift in the sentiments around the popularity of Bitcoin ETFs could result in a stagnation of inflows. A recent Bloomberg report highlights that the ETF market is shifting its focus on other launches than being fixated on the Bitcoin ETFs.

Bitcoin ETF Face Shift of Interest

Bloomberg’s statement on the shift of craze from crypto comes as money managers in Miami appeared to be letting go of Bitcoin ETF hype. The report highlights that market insiders were fixated on something that might turn out to be more significant for the $8.4 trillion market than the earlier anticipated introduction of spot BTC ETFs within the annual Exchange conference. The traction this time seems to have shifted to upcoming launches and possible regulatory measures in the realm.

Bitcoin ETF Market Price Falls, Inflows Still Steady

According to data by SoSoValue, the market price for most Bitcoin ETFs has topped today. The most popular Blackrock IBIT has currently seen the market price fall 1.67%. Fidelity and ArkInvestment’s BTC ETFs have also seen a downward trend in the market price with a fall of over 1.6% each. However, on the other hand, the net inflows of the BTC ETFs have stayed steady so far. The total cumulative net inflows for the ETFs have been over $5 billion. Last Week’s data for the total flows by asset showed that Bitcoin ETFs saw a whopping $2.4 billion in inflows, making it a record.

Market Outlook: What to Expect from Bitcoin ETFs in the Future?

There are differing opinions about how much spot BTC ETFs could earn. According to a Reuters report, while Standard Chartered analysts have predicted that the ETFs may collect $50 billion to $100 billion this year alone, Bernstein analysts predicted that flows will gradually increase to reach $10 billion in 2024. Additionally, Inflows into Blackrock’s IBIT have skyrocketed to position it in the top 7% of all ETFs by market capitalization. This is an exceptionally robust second wind for a conventionally new offering, according to many market analysts. The market has now valued all recently introduced exchange-traded funds (ETFs) to deliver strong short-term returns and long-term sustainability as investments.

SOURCE

Leave a Comment