2024

Bitcoin ETF

Bitcoin

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In a recent analysis by JPMorgan, Bitcoin has surpassed gold in terms of investor portfolio allocation when adjusted for volatility.
Nikolaos Panigirtzoglou, a managing director at JPMorgan, <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" data-type="link" data-id="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 noreferrer nofollow">stated</a> that Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) allocation is 3.7 times greater than that of gold, attributing this shift to the significant inflows into spot Bitcoin ETFs. Since the approval of these ETFs in January, over $10 billion has been invested, with the potential market size projected to reach $62 billion.
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." data-type="link" data-id="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 noreferrer nofollow">predicts</a> that the spot <a href="https://crypto.news/tag/bitcoin-etf/" data-type="link" data-id="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin ETF</a> market could expand to $220 billion within the next two to three years, potentially impacting Bitcoin’s price.
This influx has already been beneficial, as evidenced by Bitcoin’s 45% increase in market cap in <a href="https://crypto.news/bitcoin-nft-magic-eden-february/" rel="noopener noreferrer nofollow">February</a> alone. Net sales for spot Bitcoin ETFs hit $6.1 billion in February, a significant jump from January’s $1.5 billion.
You might also like: <a href="https://crypto.news/united-states-government-bitcoin/" rel="noopener noreferrer nofollow"> CryptoQuant: US government holds 210k Bitcoins with $14.4b unrealized profit </a>
Record inflows were observed on March 12, with over $1 billion invested in a single day. Analysts expect these numbers to grow further, especially with upcoming events such as the <a href="https://crypto.news/next-bitcoin-halving-just-15k-blocks-away/" data-type="link" data-id="https://crypto.news/next-bitcoin-halving-just-15k-blocks-away/" rel="noopener noreferrer nofollow">Bitcoin halving</a>, which will reduce the daily supply of Bitcoin by half, potentially leading to a supply crisis within six months, according to Ki Young Ju, CEO of CryptoQuant.
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 Bears can't win this game until spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF inflow stops. Last week, spot ETFs saw netflows of +30K BTC. Known entities like exchanges and miners hold around 3M BTC, including 1.5M BTC by US entities. At this rate, we'll see a sell-side liquidity crisis within 6 months. <a href="https://t.co/qwAbZJwSOl" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/qwAbZJwSOl</a>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1767441447702413547?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 12, 2024</a>
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Bitcoin’s resurgence comes after a nearly three-year crypto winter, with spot Bitcoin ETF approvals serving as a pivotal moment for the crypto’s price. The crypto surpassed its previous all-time high of over $69,000 and fostered institutional adoption led by <a href="https://crypto.news/tag/blackrock/" data-type="link" data-id="https://crypto.news/tag/blackrock/" rel="noopener noreferrer nofollow">BlackRock</a>.
Read more: <a href="https://crypto.news/blackrocks-bitcoin-etf-hits-10b-amidst-crypto-rally/" rel="noopener noreferrer nofollow"> BlackRock’s Bitcoin ETF hits $10b amidst crypto rally </a>

JPMorgan: Bitcoin outpaces gold in investor portfolios

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