Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/wall-street-embraces-bitcoin-etfs-with-record-breaking-launch/" data-wpel-link="internal">Wall Street Embraces Bitcoin ETFs with Record-Breaking Launch</a><br></p>
<p style="text-align: justify">Venture capitalist Anthony Pompliano, known as “Pomp” in the crypto community, announced a milestone for <a href="https://en.coin-turk.com/the-last-time-it-was-seen-the-price-soared-35-percent-bitcoin-whales-are-doing-it-again/" data-wpel-link="internal">Bitcoin</a> ETFs in their history on CNBC’s Squawk Box. Spot Bitcoin ETFs were launched a month ago, on January 11th, following the much-anticipated approval by the Securities and Exchange Commission and its chairman, Gary Gensler.</p> 
<h2 style="text-align: justify" id="bitcoin-etfs-a-historic-milestone">Bitcoin ETFs: A Historic Milestone</h2> 
<p style="text-align: justify">Pompliano stated that Wall Street not only has a fondness for Bitcoin but is also in love with it. He mentioned that the recently launched spot ETFs have set a record in the history of such assets.</p> 
<p style="text-align: justify">Discussing Bitcoin ETFs, Pompliano referred to some significant historical data. Over the last 30 years, 5,500 ETFs have been launched. However, only the spot Bitcoin ETFs managed to surpass all previously launched ETFs by collecting $3 billion in the first month of trading.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-313865 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/wall-street-coin-turk-com-.png" alt="" width="578" height="766"></p> 
<p style="text-align: justify">Pomp shared that Bitcoin ETFs launched by BlackRock and Fidelity achieved this success, adding that spot Bitcoin ETFs are now consuming 12.5 times more BTC per day than miners produce.</p> 
<h2 style="text-align: justify" id="the-figures-are-astounding">The Figures Are Astounding</h2> 
<p style="text-align: justify">To date, the BlackRock ETF has seen an astonishing $4 billion in Bitcoin inflows, while Fidelity has attracted $3.5 billion. As for Bitwise and 21Shares, each has reached $1 billion in Bitcoin inflows this week. Pomp also noted that 80% of all circulating Bitcoin has not moved in the last six months.</p> 
<p style="text-align: justify">Only about $200 billion of Bitcoin is in a tradable state. Therefore, ETFs collected 5% of all Bitcoin traded on the market in just 30 days. Pompliano expressed his amazement at this development, saying, “Bitcoin has become Wall Street’s favorite asset.”</p> 
<h2 style="text-align: justify" id="wall-street-s-embrace-of-bitcoin">Wall Street’s Embrace of Bitcoin</h2> 
<p style="text-align: justify">Pompliano also reminded CNBC hosts that Fidelity recently announced they would be adding some of their Bitcoin holdings to “All-in-One” ETFs in Canada. This means that a portion of their Bitcoin, including some from spot Bitcoin ETFs, will correspond to 1-3% of their holdings.</p> 
<p style="text-align: justify">This “All-in-One” fund includes half a dozen types of stocks, including US and global equities. They now plan to add Bitcoin to this mix.</p> 
<p style="text-align: justify">The launch of Bitcoin ETFs has been a significant turning point in the <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> world. Moreover, Bitcoin ETFs have attracted unprecedented investor interest, breaking records in just the first month of trading. With Wall Street increasingly adopting Bitcoin, the future of cryptocurrency in traditional financial markets looks promising and dynamic.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/wall-street-embraces-bitcoin-etfs-with-record-breaking-launch/" data-wpel-link="internal">Wall Street Embraces Bitcoin ETFs with Record-Breaking Launch</a></h5>

Wall Street Embraces Bitcoin ETFs with Record-Breaking Launch

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