Posted 2/29/2024, 5:34:00 PM
Bitcoin ETFs See Surge in Demand Driven by Retail and Institutional Investors
- Retail investors, hedge funds, and independent financial advisors have driven most of the demand for new bitcoin ETFs so far
- Bitwise CIO Matt Hougan expects even more demand as major U.S. wirehouses begin participating
- Bitcoin ETF trading volume reached new records this week, surpassing $7.7 billion on Wednesday
- BlackRock's iShares Bitcoin ETF (IBIT) and Fidelity's FBTC lead with over $9 billion and $6 billion in AUM respectively
- Hougan predicts consolidation down to 6-8 bitcoin ETFs surviving long-term