The market response to the U.S. Securities and Change Fee’s (SEC) reluctant approval of spot bitcoin (BTC) ETFs has been comparatively muted, with the main focus now shifting to how a lot capital these new ETFs will pull in, the report stated
“We’re skeptical of the optimism shared by many market members in the mean time that plenty of recent capital will enter the crypto area because of the spot bitcoin ETF approval,” analysts led by Nikolaos Panigirtzoglou wrote.
Nonetheless, the financial institution does see a major rotation from current crypto merchandise into the newly created ETFs, so even when no new capital enters the cryptocurrency market, the brand new ETFs might nonetheless appeal to inflows of as much as $36 billion.
