Sunday, December 10, 2023

Bitcoin (BTC) Retreats Barely; FTX Receives Bids for Restart



Spot bitcoin (BTC) exchange-traded funds (ETFs) may entice at the very least $14.4 billion of inflows within the first yr of issuance, crypto fund Galaxy Digital said in a research note on Tuesday. An ETF could possibly be a greater funding car for traders in comparison with at present supplied merchandise, corresponding to trusts and futures, which maintain over $21 billion in worth, the fund mentioned. The inflows may ramp up by $27 billion by the second yr and $39 billion by the third yr, it added. “The U.S. wealth administration business will seemingly be essentially the most addressable and direct market that will have essentially the most web new accessibility from an authorised Bitcoin ETF,” the word learn. “As of October 2023, property managed by broker-dealers ($27 trillion), banks ($11 trillion) and RIAs ($9 trillion) collectively totaled $48.3 trillion.”

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