Many organizations manage trillions of dollars. It is preparing to invest in a Bitcoin exchange-traded fund (ETF) by the end of June.
Matt Hogan Bitwise's Chief Investment Officer (CIO) announced on March 9 that the company is currently engaged in extensive due diligence discussions. It aims to significantly increase Bitcoin holdings in the coming period.
Investor interest has risen dramatically.
Matt Hogan This has been verified by a wide range of investors such as retail investors, family offices and hedge funds. And joint venture companies are looking to increase their exposure to Spot Bitcoin ETFs, not only existing investors but also those who may invest in the future.
Increased institutional interest in Bitcoin ETFs is linked to the rise in the price of Bitcoin, with the price of Bitcoin rising more than 50% from $45,603 to $68,583 since January 11, according to data from TradingView. Matt Hogan It has been revealed that Bitcoin ETFs have attracted nearly $9 billion in net investment inflows since their launch.
Flows into the 11 approved Bitcoin ETFs are expected to continue to increase this year. “These important funds control trillions of dollars in assets.” Matt Hogan He explains
He also expressed his expectation that we will see significant inflows from these funds in the second quarter of 2024, with growth expected to accelerate as investors become more familiar with new Bitcoin ETF offerings throughout the year.
Bitcoin ETF has significant investment flows
Matt Hogan While he remains bullish on Bitcoin ETFs, he predicted on February 29 that institutional investments in these funds will increase significantly. Which he obviously believes will help raise the market capitalization (market capitalization) of Bitcoin.
From search data BitMEX The Bitcoin ETF was found to have had a total investment inflow of $8.89 billion since its launch. The main driver of this uptrend is BlackRock's iShares IBIT fund, which received the largest share of new investors' money.
source:cryptfiles
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