Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
BlackRock Managing Director says spot bitcoin ETFs are satisfying 'pent-up demand'

BlackRock Managing Director says spot bitcoin ETFs are satisfying 'pent-up demand'

The Block2024/03/19 15:16
By: Tim Copeland
BTC-0.06%
BlackRock Managing Director Tony Ashraf said that spot bitcoin ETFs are satisfying pent-up demand for the asset.He explained three key areas that are driving client demand for the ETFs.
BlackRock Managing Director says spot bitcoin ETFs are satisfying 'pent-up demand' image 0

Spot bitcoin ETFs are helping to meet demand for bitcoin, which had been building up for a while, according to BlackRock Managing Director Tony Ashraf.

"What we're really seeing over the past couple of months is that pent-up demand being satisfied because of the ETFs," said Ashraf on a panel about bitcoin ETFs at the Digital Asset Conference in London

Ashraf noted that new investors are entering the crypto space because ETFs are providing a newer level of access to many investors.

Michael Sonneshein, CEO of Grayscale Investments — which operates a spot bitcoin ETF — concurred with his view. He observed that there’s been explosive growth in the ETFs in general, which has met the pent-up demand. He mentioned that we are now in a phase between that stage and the next one, which will entail more growth and institutionalization of these products.

Three drivers of demand for bitcoin ETFs

RELATED INDICES

See crypto indices

Ashraf stated that there were three key drivers of demand for the bitcoin ETFs.

He mentioned the first one as the macroeconomic environment and changing demographics in terms of wealth — something he said should not be underestimated in terms of its impact. He remarked that this demographic might alter the standard crypto cycle as, for instance, investors buying bitcoin through a registered investment advisor are unlikely to market sell when the price drops 10%.

The second area is the maturation of the industry, something he described as really important. He cited the influx of more venture capitalists into the space and traditional advisors as supporting this trend. Moreover, he noted that simple things like custody for cryptocurrencies have become more secure.

Ashraf pointed to the improving regulatory environment as the third area driving demand. He remarked that more clarity and certainty are starting to emerge. However, he added, this is still in the early stages.


Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — BARD/USDT!
Bitget Announcement2025/09/19 07:28
BTC/ETH VIP Earn Ultimate Carnival is officially here!
Bitget Announcement2025/09/18 07:12
New spot margin trading pair — FLOCK/USDT!
Bitget Announcement2025/09/18 06:55
0GUSDT now launched for pre-market futures trading
Bitget Announcement2025/09/18 05:39

Trending news

More
1
New spot margin trading pair — BARD/USDT!
2
BTC/ETH VIP Earn Ultimate Carnival is officially here!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,738.28
-1.31%
Ethereum
Ethereum
ETH
$4,472.8
-2.86%
XRP
XRP
XRP
$3
-2.74%
Tether USDt
Tether USDt
USDT
$1
+0.02%
BNB
BNB
BNB
$986.88
+0.15%
Solana
Solana
SOL
$238.96
-3.39%
USDC
USDC
USDC
$0.9998
-0.01%
Dogecoin
Dogecoin
DOGE
$0.2657
-5.16%
TRON
TRON
TRX
$0.3442
-2.10%
Cardano
Cardano
ADA
$0.8961
-3.69%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter