Posted 1/4/2024, 11:00:00 AM
Flood of Money May Enter Bitcoin Market if SEC Approves New Crypto Funds
- A flood of investment money poised to enter crypto market if SEC approves Bitcoin ETFs from over a dozen firms
- Current biggest Bitcoin investment vehicle, Grayscale Bitcoin Trust, has $26B assets, indicating appetite for Bitcoin
- Key players like trading firms and market makers believe Bitcoin trading liquid enough to accommodate giant ETF purchases
- Trading firm DRW preparing for Bitcoin ETFs by sourcing Bitcoin to meet expected demand when new ETFs launch
- Observers believe $22B average daily Bitcoin trading volume enough to meet issuer demand, unclear if ETFs will impact BTC price