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22.11 - 19:59
Looking beyond the hype around Bitcoin ETFs
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Bitcoin over the years has managed to gradually but successfully seep into the stock market; the best example being the Grayscale Bitcoin Trust (GBTC). But the pertinent question here is- how well has it actually fared?
Bitcoin Exchange Traded Funds (ETFs) were one of the most awaited arrivals in the crypto space for a long time. After it came into being, a huge impact on the Bitcoin market was registered.
In the first week of the launch, inflows were soaring, touching about $1.46 billion. However, by the very next week, the hype lost steam, and inflows merely brought in $287 million.
ETF inflows | Source: CoinShares
However, there is another reason why the last week failed to hit higher highs. Firstly in the same week as the ETF was launched
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