Unmet Demand for Spot Bitcoin ETF Could Unleash $70 Billion Surge in Bitcoin Market, According to Glassnode

According to a current record by on-chain data firm Glassnode, there is substantial unmet need from capitalists for a place Bitcoin exchange-traded fund (ETF).

Up to $70 billion in fresh funding might pour into the Bitcoin market adhering to the greenlighting of a spot Bitcoin ETF, according to Glassnode’s forecast. This forecast is based in the assumption that 10% of funds presently invested in major supply and bond ETFs would move to a Bitcoin ETF, in addition to 5% of funding designated to gold ETFs. The record highlights the reducing supply of Bitcoin readily available for trading to fulfill this prospective surge popular.

Glassnode information shows that the portion of Bitcoin held by temporary capitalists has actually gotten to multi-year lows, while the share of lasting holders has climbed to all-time highs above 76% in October. Although U.S. regulatory authorities have yet to approve a spot Bitcoin ETF, doing so can substantially broaden accessibility and need for Bitcoin amongst institutional financiers.

Glassnode suggests a spot Bitcoin ETF can have impacts similar to the first united state gold ETF introduced in 2003. In the years that followed, gold rates climbed over 400% amid better financial investment demand.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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