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Bitcoin ETFs Fail to Meet Expectations, Expert Warns

Bitcoin ETFs Fail to Meet Expectations, Expert Warns

CryptodnesCryptodnes2024/09/10 18:06
By:Cryptodnes

Jim Bianco, CEO of Bianco Research, has expressed doubts about the impact of Bitcoin ETFs in the US, despite the initial enthusiasm.

He argues these funds have not yet significantly contributed to broader cryptocurrency adoption and may need more time to prove their value.

Bianco notes that since their launch in January, Bitcoin ETFs have faced challenges, including substantial outflows and limited institutional involvement.

Data reveals that over $1 billion has exited these ETFs in the past eight trading days, reducing their assets from $61 billion to $48 billion. Bianco believes this indicates a lack of sustained investor interest.

READ MORE:
Bitcoin’s Future Could Depend on U.S. Presidential Election Outcome, Analysts Say

He also points out that the majority of recent ETF investments came from existing crypto holders moving funds from traditional finance, not from new market entrants. Additionally, most purchases seem to be through self-directed accounts, not institutional channels.

Despite these issues, Bianco remains optimistic about the long-term potential of Bitcoin ETFs. He suggests that they might become a more effective tool for adoption after further development of blockchain technologies and the next Bitcoin halving in 2028.

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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.

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