Last week we saw the approval of 11 spot #Bitcoin ETFs.
The long-standing saga is finally over.
However, the story doesn't end there.
What happened since then and what lies AHEAD for the industry?
Find out in this thread 🧵
1/ We'll be looking at three topics today:
1️⃣ Market Overview
2️⃣ What's Next?
Let's dive in!
2/ 1️⃣ Market Overview
As you all know, the drama around the spot #BTC ETF came to an end last week.
However, what seemed like a resolution took an unexpected turn when certain TradFi brokerage firms, including Vanguard, declared that they won't be offering the ETF to customers.
3/ Despite the availability of a FULLY REGULATED crypto financial instrument for investors, some institutions are hesitant to allow their users to purchase them...
Yet another reason to embrace #DeFi right here! 🤣
4/ On the other hand, giants like BlackRock, having secured approval for their spot #BTC ETF, are now giving their endorsement to the industry.
Larry Fink has been in the media for a while expressing positive sentiments about Bitcoin and blockchain.
5/ Vanguard is merely postponing the inevitable — crypto is inevitable.
Yet, if they keep fading it and restricting their customers' freedom, they risk losing market share in the long run to competitors like BlackRock, currently top #1 and Fidelity, top #Yet, if they keep fading it and restricting their customers' freedom, they risk losing market share in the long run to competitors like BlackRock, currently top #1 and Fidelity, top #3.
6/ In only two days of trading, the cumulative volume for spot #BTC ETFs reached $7.7 billion!
BlackRock's ETF experienced over half a billion dollars in inflows within the initial two days!
Look at what Vanguard is missing here 👀
Just imagine the long-term scenario.
7/ 2️⃣ What's Next?
With the most challenging phase getting past behind us, what lies ahead for the industry?
Firstly, we'd like to highlight a survey made by @BitwiseInvest showing that 88% of financial advisors interested on BTC were awaiting ETF approval to start allocating.
8/ The importance of the spot ETF is on the institutional side.
Professionals needed a regulated venture to get exposure to crypto.
The same happened to gold in 2004.
Now, they have one.
9/ Big inflows are on the horizon.
But that's not the end of the story.
Massive speculation is underway in other assets, which could spark a positive sentiment across the entire crypto industry!
We might see spot ETH ETFs already this year!
10/ A recent study revealed that pension funds globally manage assets exceeding 47 TRILLION dollars.
Now, envision the impact if they were to allocate just 1% into BTC through a regulated avenue.
This would be $470 Billion, which is more than half of the current #BTC market cap!
