The much stronger-than-expected inflows into the spot bitcoin exchange-traded funds (ETFs) have already caused concerns about a supply shock in the bitcoin market, potentially taking away some of the impacts of the halving.
The Securities and Exchange Commission has opened up comment periods for ETF applications for Grayscale, Fidelity and Bitwise.
If history repeats itself, an even more bullish period for bitcoin and crypto markets could be on the horizon in the months following the halving, the report said.
The BlackRock CEO isn’t worried about the U.S. Securities and Exchange classifying Ethereum’s ether as a security.
The fund comes with a small twist in that it can allocate up to 5% of its assets into bitcoin futures contracts.
In January, Harvest Küresel Investments, a major asset-management company in China, purportedly became the first to apply for a spot-bitcoin exchange-traded fund (ETF) with the SFC.
Allowing in-kind creations and redemptions for spot bitcoin ETFs in Hong Kong could bring a significant amount of money into the space from Chinese investors.
One analyst said quarter-end inflows could be stronger than usual.
Grayscale’s GBTC product saw large outflows last week and inflows to other ETFs did not increase in tandem, briefly fueling concerns of a spot-driven selloff.
The latest price moves in crypto markets in context for March 20, 2024.