Spot Bitcoin ETFs and Halving Mark Milestones – What Lies Ahead for Crypto?
Amid the whirlwind caused by the introduction of Spot Bitcoin ETFs and the looming Bitcoin halving, the cryptocurrency market remains abuzz with excitement and anticipation.
These recent developments have shaken the industry. But enthusiasts eagerly await the next catalysts to drive the ecosystem to new heights.
Just one day before the highly anticipated halving event, spot Bitcoin ETFs experienced a surge in popularity, coinciding with a rise in the underlying asset’s price. However, flows to these three-month-old products declined into negative territory earlier this week.
The halving, a phenomenon that occurs roughly every four years for Bitcoin, is expected to occur between April 19 and 20. It involves a planned reduction in the reward that companies receive for mining the cryptocurrency.
On Thursday, Deutsche Bank analysts said Bitcoin prices are unlikely to see significant increases following the halving. They argue that since the Bitcoin algorithm has already accounted for the halving event, its impact has already been priced into the market.
Sunand Raghupathi, CEO of Seven Seas Capital, noted how Bitcoin and Ethereum have led the charge in attracting ETF interest. Now, other crypto services and products are grabbing attention too, not just from individuals but also from big institutions.
He mentioned that after these ETFs, the market might see more cool and sustainable ways for people and businesses to earn yield. This could mean using Ethereum apps to earn native rewards and tokenize all sorts of stuff, from real-world assets to stablecoins.
Tokenization involves the conversion of real-world assets into digital representations stored on a blockchain ledger.
“I think there are many, many applications on the Ethereum
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