New Era in the Bitcoin ETF Market

Cryptocurrency markets have been on the rise, led by Bitcoin in particular. Bitwise CEO Hunter Horsley predicts that asset management firms will increase their interest in Bitcoin ETF funds. This prediction coincides with the expectation that Bitcoin will attract more attention after the halving event.

Growing Interest in ETF Funds

"Bitcoin investments in the spot mutual funds market in the United States increased before the halving event. This indicates an increase in demand for ETF funds. BlackRock's iShares Bitcoin Trust (IBIT) is rapidly closing the gap with Grayscale and is on track to become the world's largest Bitcoin fund.
On the other hand, Grayscale's spot Bitcoin ETF fund has seen significant capital outflows recently. In the past five days alone, investors withdrew $89.9 million, contributing to a total net outflow of $1.6 billion since January.
Large financial institutions such as Fidelity and BlackRock have quickly gained significant shares of the Bitcoin ETF market. To some extent, this provided a solution to the problems in market liquidity. The CEO of Bitwise noted that ETF funds are being adopted by registered investment advisors (RIAs) and multi-family offices, which is part of a comprehensive assessment of the Bitcoin market."

Observed Changes in Funds

"GBTC has experienced lower levels of capital outflows compared to previous periods. Since 2015, GBTC has been on the market and was converted into an ETF fund in January. Grayscale filed a lawsuit with the United States Securities and Exchange Commission, which led to the launch of other spot Bitcoin ETF funds.

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