The latest influx of Bitcoin spot ETF applications in the United States is certainly generating hype, but some analysts are split on whether that excitement is warranted.
that spot ETFs have already existed in Canada and Europe for years, and have failed to attract much capital, “failing to benefit from investor outflows from gold ETFs.” For context, the total US commodity ETF market amounts to $137 billion. Furthermore, Glassnode analysts say that roughly $13.5 billion worth of BTC actively participates in price discovery right now.
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