Bitcoin ETF

Bitcoin

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Bitcoin&nbsp;has now overtaken gold in investor portfolio allocation when adjusted for volatility, according to a JP Morgan analyst&nbsp;
JPMorgan managing director Nikolaos Panigirtzoglou <a href="https://www.investing.com/news/cryptocurrency-news/bitcoin-has-already-surpassed-gold-in-investor-portfolio-allocation--jpmorgan-432SI-3339912#:~:text=JPMorgan%20analysts%20said%20that%2C%20when,allocation%20compared%20to%20the%20bullion" target="_blank" rel="noopener nofollow">reportedly</a>&nbsp;said that, when adjusting for volatility, Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) allocation in investor portfolios is 3.7 times greater than gold. 
The analyst highlighted the significant inflows of over $10 billion into spot Bitcoin exchange-traded funds (ETFs) since their approval in January and claimed the potential Bitcoin ETF market size could reach $62 billion, using gold as a benchmark.&nbsp;
Another report from JPM Securities <a href="https://finance.yahoo.com/news/spot-bitcoin-etfs-could-see-174838004.html#:~:text=Spot%20bitcoin%20ETFs%20could%20see%20%24220B%20of%20inflows%20over,next%20two%20to%20three%20years." target="_blank" rel="noopener nofollow">predicts</a>&nbsp;that the spot Bitcoin ETFs market could grow as large as $220 billion in the next two to three years:
<blockquote data-ct-non-breakable="true">
 “We estimate $220B of incremental flows will come into the ETFs over the next three years, which could also be quite impactful to Bitcoin’s price given the multiplier on capital.”
</blockquote>
Bitcoin ETFs have proven to be a net positive for the crypto market, with the world’s largest cryptocurrency gaining over 45% in market cap in February. Net sales for spot Bitcoin ETFs climbed to $6.1 billion in February, compared to $1.5 billion in January.
The largest daily inflows to the spot Bitcoin ETFs peaked at over $1 billion on March 12, and analysts believe this number could rise further once outflows from the Grayscale Bitcoin Trust ETF stop.
With the Bitcoin halving just over a month away, the supply of daily BTC would be cut down in half, which could fuel the demand further and lead to a supply crisis within the next six months, predicts Ki Young Ju, the CEO of crypto analytic firm CryptoQuant.
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 <img src="https://s3.cointelegraph.com/uploads/2024-03/44043d08-a9ba-446e-aa69-6bccc56a741c.png" alt="" title="">
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 Bitcoin supply shock. Source: <a href="https://twitter.com/ki_young_ju/status/1767441447702413547" target="_blank" rel="noopener nofollow">Ki Young Ju on X</a>
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</figure>
After a prolonged crypto winter lasting nearly three years, spot Bitcoin ETF approvals became a catalyst for BTC’s mammoth price action that has pushed it past the last bull cycle’s all-time high of above $69,000, as well as opening the doors to institutional adoption led by the world’s largest asset manager, BlackRock.

Bitcoin overtakes gold in investor portfolio allocation — JPMorgan

Cointelegraph

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