Bitcoin ETF

Bitcoin

James

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Nate Geraci, an authoritative voice in the ETF industry, recently <a href="https://twitter.com/NateGeraci/status/1772063794404921554" rel="noopener noreferrer nofollow">took to X</a> (formerly Twitter) to push back against some rather premature claims of the downfall of Bitcoin exchange-traded funds (ETFs).&nbsp;
Despite a recent outflow of roughly $850 million, Geraci believes that the game is far from over. The analyst pointed to the insanely successful launch of these ETFs, which have managed to attract roughly $50 billion worth of assets under management.&nbsp;
Furthermore, Geraci stressed that Registered Investment Advisors (RIAs) and brokerage platforms are yet to even approve Bitcoin ETF for use, which means that there is a lot of untapped potential.&nbsp;
In a subsequent post, Geraci recalled how many naysayers initially predicted that there would be no demand for Bitcoin ETFs.&nbsp;
Geraci was irked by a recent report from the Financial Times, which has called attention to the seemingly waning demand for the much-touted product. BlackRock's ETF attracted a relatively modest $576 million worth of inflows. At the same time, its rivals hardly attracted any inflows. At the same time, Grayscale's GBTC was been bleeding Bitcoin with record-breaking outflows.&nbsp;
Marex's Ilan Solot told the Financial Times that Bitcoin ETFs are now in "a dead zone" following a short period of exuberance. CoinShares's James Butterfill also opined that some investors remain on the sidelines due to the rapidly declining <a href="https://u.today/bitcoin-btc-price-prediction-for-march-23" rel="noopener noreferrer nofollow">Bitcoin price</a>.&nbsp;
Despite the short-term turbulence, industry insiders remain optimistic about the long-term prospects of Bitcoin and its ETFs.
Analysts point to the upcoming halving event in April, which historically has boosted Bitcoin's price.&nbsp;
At press time, the price of the flagship cryptocurrency is sitting slightly above the $67,000 level.&nbsp;

Are Bitcoin ETFs Over? Top Expert Doesn’t Think So

U_Today

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