Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/the-ripple-effect-of-bitcoin-etfs-on-market-dynamics" rel="noopener noreferrer nofollow">The Ripple Effect of Bitcoin ETFs on Market Dynamics</a><br></p>
<p style="text-align: justify">The advent of <a href="https://en.bitcoinhaber.net/anticipation-builds-in-crypto-world-sec-talks-musks-bitcoin-chat-and-potential-etf-approval" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded funds (ETFs) has ignited a discourse on their potential influence on the cryptocurrency’s price and supply dynamics. While the initial market reaction to the approval of Bitcoin ETFs was not significant, institutional investors have shown increased interest in these products, potentially indicating a shift in Bitcoin accumulation patterns.</p>
<p style="text-align: justify">BlackRock’s participation in the Bitcoin ETF space has bolstered optimism for a rise in individual investor engagement, which could drive up Bitcoin’s price. Currently, 11 spot Bitcoin ETF applications account for approximately 3.3% of the total Bitcoin supply in circulation.</p>
<p style="text-align: justify">The list of recently approved Bitcoin ETFs includes major financial entities such as Grayscale and Fidelity, with the total number of Bitcoins in circulation standing at 19.61 million. The upcoming Bitcoin halving event in April, which slashes mining rewards by half, is also a focal point of speculation due to its impact on supply and price.</p>
<h2 id="market-response-to-etf-approvals">Market Response to ETF Approvals</h2>
<p style="text-align: justify">Despite the SEC’s approval of 11 spot Bitcoin ETFs, expectations of a price surge were dampened as Bitcoin’s value declined by 10%. SEC Chairman Gary Gensler’s subsequent comments highlighted his view that these financial products are at odds with Bitcoin’s decentralized ethos, potentially heightening market speculation and volatility.</p>
<p style="text-align: justify">Gensler’s cautionary stance seems to have been validated as market behavior post-approval has been marked by increased selling influenced by news-driven trading activities.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/the-ripple-effect-of-bitcoin-etfs-on-market-dynamics" rel="noopener noreferrer nofollow">The Ripple Effect of Bitcoin ETFs on Market Dynamics</a></h5>

The Ripple Effect of Bitcoin ETFs on Market Dynamics

Table of Contents

BH NEWS

Other articles published on Feb 2, 2024

Can SUI’s Token Unlock Bring Respite; Will AXS Follow?

Debates Continue Over Long-Term Implications of Bitcoin ETFs

Planetarium Labs Announces Pilot Version of Prelude to Guild War That Kicks off With Arena Season...

DOJ Revealed How Crypto Exchange FTX Plunged into Bankruptcy, Raising Bigger Concerns

Russia to involve 30 banks in its CBDC pilot test

Ripple co-founder’s hacked funds halted by Binance, Richard Teng confirms on X

Join our free newsletter for daily crypto updates!