Bitcoin the ‘main beneficiary’ as crypto funds notch 10-week streak
Nearly $1.8 billion flowed into crypto investment products over the last 10 weeks, which hasn’t been seen since Bitcoin futures were launched in October 2021.
Auto Added by WPeMatico
Nearly $1.8 billion flowed into crypto investment products over the last 10 weeks, which hasn’t been seen since Bitcoin futures were launched in October 2021.
The Bitcoin futures annualized premium jumped to 34% on Nov. 28, leading analysts to speculate about an imminent spot BTC ETF approval.
A spot Bitcoin ETF will bring fresh money to the market, but it will not change a fundamental reality: Bitcoin liquidity is declining.
Getting regulatory approval has been crucial for companies, particularly in a tight regulatory environment during the crypto winter.
The new trading capability comes simultaneously with a surge in interest in crypto financial products in the United States.
Bitcoin is in line to benefit from a tsunami of institutional capital, says Dan Tapiero, while Ethereum is also due an ETF boost.
More than $15 billion in Bitcoin open interest reaches a predictable conclusion as shorts get squeezed and BTC price action targets $36,000.
The intent behind the tokenization of SFC-authorized investment products is tied to rising market demand and the government’s willingness to facilitate market development.
CME Bitcoin futures hit a 2-year high, but options market data reflects investors’ hesitancy.
ETH rallied alongside Bitcoin as new spot ETF news emerged, and the altcoin could benefit from the failure of its layer-1 competitors.