Posted 1/5/2024, 1:57:00 PM
SEC Bitcoin ETF Approval Stirs Debate on Impact to Prices and Investor Inflows
- Opinions mixed on impact of SEC approving a spot bitcoin ETF - some see big inflows, others say impact overestimated
- Analysts draw comparisons to inflows into early gold and Nasdaq ETFs - ranging from hundreds of millions to a few billion
- Bitcoin has rallied ahead of expected ETF approvals before, only to crash afterwards
- This time could be different with ETFs needing to buy actual bitcoin, taking supply off market
- Report estimates $30 billion potential inflows into bitcoin ETF, given higher volatility than gold