Bitcoin ETF approvals mean BTC ‘not going to zero,’ but…

In a recent turn of events, Federal Open Market Committee members advocated for patience regarding interest rate cuts and issued warnings about persistent inflation leading to a decline in U.S equity markets.“The vast majority of the 40% gains in Bitcoin since ETF launch have been after hours with huge price gaps forming bt close and open.. great chart showing the intra-day vs after hours return for $IBIT from @psarofagis.

Leading the influx was the Fidelity Wise Origin Bitcoin Fund , which saw net inflows of $116.7 million on 3 April. Additionally, the Bitwise Bitcoin ETF noted net inflows of $22.6 million over the same period., Founder & CEO of Bitwise Asset Management, in a recent conversation with Anthony Pompliano at the Bitcoin Investor Day’s event in New York, claimed,“I also think ETFs being approved and BlackRock coming in means that it’s not going to zero.

Additionally, Matt Hougan, CIO of Bitwise Asset Management, highlighted how ETF approval, which was initially limited to retail investors and independent advisors, has gradually expanded to larger institutions, reaching its peak inflows in 2020 – 16 years later.Despite limited adoption in U.S wealth management, optimism remains for ETF expansion as regulations evolve. In fact, according to analysts, Bitcoin ETFs offer a simplified investment route, avoiding operational complexities.

With Bitcoin’s spot ETF market anticipating sustained net inflows, the upcoming U.S Jobs Report could still shape investor sentiment towards BTC. Additionally, with Bitcoin’s halving on the horizon, sustained demand through the ETF market could help stabilize the cryptocurrency’s price after the same.Ishika is a graduate of Political Science from the University of Delhi.

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