Institutional Investors Bet on Bitcoin Rally This Year as Money Flows Into Crypto Products
-
Institutional investors appear to be betting on an upcoming Bitcoin rally based on recent flows into Bitcoin investment products, according to CoinShares CSO Meltem Demirors.
-
Demirors says over $760 million has flowed into Bitcoin products in 2023 so far, exceeding 2022 levels.
-
She thinks the SEC will likely approve a Bitcoin spot ETF by end of year, though capital may take time to flow into a Bitcoin ETF if approved.
-
Bitcoin is currently trading around $37,369.
-
Demirors notes increased trading volume and activity in Bitcoin products in the last 6 weeks.