BlackRock ETF head Samara Cohen has told CNBC that most demand for Bitcoin comes through investment tools like ETFs, not direct purchases from crypto exchanges.
She highlighted that 80% of Bitcoin ETF buyers are direct investors, and 75% are first-time buyers of BlackRock's iShares products.
The total market cap of all 11 spot Bitcoin ETFs has reached over $63 billion, with nearly $20 billion in inflows. In the last five trading days, spot Bitcoin ETFs saw over $2.1 billion in net inflows, with BlackRock responsible for half.
HOT Stories XRP Is Not Security, Ripple's Stuart Alderoty Reveals in New ClaimWhat is Pectra Upgrade on Ethereum: GuideSolana Founder Breaks Silence on Major Blockchain Software BugXRP to Dodge Death Cross? Bitcoin (BTC) $70,000 Mark Close But There's a Problem, Massive Dogecoin (DOGE) Breakthrough in Progress
Bitcoin hit its highest price since July, trading above $68,300, ending Q3 up 140% year-over-year. Cohen also emphasized that they initially aimed to educate ETF investors about crypto, but instead found themselves teaching crypto investors about the benefits of ETFs.
New Bitcoin ETF options
On Friday, the U.S. Securities and Exchange Commission (SEC) granted accelerated approval for 11 exchange-traded funds (ETFs) to list and trade options tied to spot Bitcoin prices on the New York Stock Exchange (NYSE).
This marks an important step forward for institutional investors, as Bitcoin options provide a flexible and efficient tool for hedging and amplifying exposure to Bitcoin.
Related
Sat, 10/19/2024 - 09:35What's Next for Bitcoin ETFs? Top Analyst Weighs In On New SEC Approval
Dan Burgin
These options offer investors a way to speculate or hedge risks related to Bitcoin’s price movements in a regulated market, with less capital required compared to trading the actual asset.
Bloomberg analyst Eric Balchunas has commented on yet another historic moment for the crypto market. According to him, the SEC approved the same thing for Nasdaq recently, so this news doesn’t come as a major surprise, despite being positive news for crypto in general.
They approved same thing for Nasdaq recently so not a big surprise but still good news as SEC was big hurdle. We hearing good things about the rest of process altho exact timeline for listing date still unclear. https://t.co/N9squVSXfS
— Eric Balchunas (@EricBalchunas) October 18, 2024However, the actual listing will require more time, as the new options still need CFTC approval, Balchunas said.
Bitcoin returns surpass expectations
Bitcoin closed Q3 with a modest 1.00% gain, recovering after dropping below $50,000 in August, according to CCData. As we head into Q4, market sentiment has turned bullish, supported by historical data showing an average return of 49.9% in Q4 since 2014.
Related
Sat, 10/19/2024 - 09:20Binance Hits Major $100 Trillion Historic Milestone
Dan Burgin
This optimism is reinforced by a shift in market dynamics following the Federal Reserve's interest rate cut of 50 basis points. The cut boosted market activity, with Bitcoin's aggregated open interest jumping 6% to nearly $27 billion.
Source: CCData
Bitcoin's price surged past $62,000, reflecting a strong bullish response, and altcoins followed suit, outperforming U.S. equities, which saw volatile movements.
This outperformance in the crypto market suggests that liquidity injections could follow, as the rate cut often indicates macroeconomic weakness after a multi-year tightening cycle.
If further economic stimulus is required, risk-on assets like Bitcoin are expected to benefit most, with upward momentum likely to continue in the near term.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
