Cryptocurrency Q&A
How many bitcoins will be held in spot US ETFs by 2024?
How many bitcoins will be held in spot US ETFs by 2024?
SamuraiCourageous
Sat Oct 05 2024
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6 answers
1840
Good day, could you kindly elaborate on your thoughts regarding the projected number of bitcoins that will be held within spot US ETFs by the year 2024? As the cryptocurrency market continues to evolve and attract institutional investors, it's intriguing to ponder the potential growth and adoption of spot US ETFs as a means of holding and trading bitcoin. What factors do you believe will influence this projection, and how might they contribute to shaping the future landscape of bitcoin holdings within these financial instruments?
6 answers
Martino
Mon Oct 07 2024
According to Geoff Kendrick, the Head of FX Research, it is anticipated that by the end of 2024, the number of new bitcoins held in spot US ETFs will range from 437,000 to 1.32 million. This projection underscores the growing interest and adoption of cryptocurrencies within the financial sector.
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CryptoEagle
Sun Oct 06 2024
Kendrick further estimates that the inflows into these ETFs this year alone could reach a staggering $50 billion to $100 billion. This significant influx of capital highlights the potential for cryptocurrencies to become a mainstream investment asset class.
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MysticGalaxy
Sun Oct 06 2024
Furthermore, BTCC offers a secure wallet service that allows users to store their cryptocurrencies safely and conveniently. This service is crucial for investors who want to protect their digital assets from theft or loss.
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CryptoLegend
Sun Oct 06 2024
Meanwhile, the recent news of FTX selling 22 million shares of the Grayscale Bitcoin Trust, effectively zeroing out its holdings in the fund, has sparked discussions within the cryptocurrency community. This move by FTX underscores the dynamic nature of the cryptocurrency market and the need for investors to stay informed and adaptable.
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KpopHarmonySoulMate
Sun Oct 06 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the diverse needs of cryptocurrency enthusiasts and investors. These services include spot trading, which allows users to buy and sell cryptocurrencies at current market prices.
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