Institutional Appetite Returns to Crypto as Markets Hit 18-Month High
The post Institutional Appetite Returns to Crypto as Markets Hit 18-Month High appeared on BitcoinEthereumNews.com.
Bitcoin spot exchange-traded fund fervor has gripped institutional investors, which are piling funds back into crypto assets. Institutional-grade crypto asset funds saw their largest weekly inflows since late 2021 last week, according to fund manager CoinShares. A new record of inflows of 346 million was recorded for the week, the highest total observed in the past 9 weeks of inflows, it revealed. Moreover, the global head of cryptocurrency products at CME, Giovanni Vicioso, commented on the return of institutional traders to crypto derivatives markets. The increase in volume and open interest is a “clear indication that institutions are moving into this space,” he said. Institutional Appetite is Back According to CoinShares, the fresh inflow of funds has pushed total assets under management to an 18-month high of $45.3 billion. Bloomberg ETF analyst James Seyffart predicted that the spot Bitcoin funds will be approved during the second week of January. Moreover, ETF Store President Nate Geraci commented that it “Will be mass chaos if SEC doesn’t allow GBTC to up list at the same time as other spot BTC ETFs launch…” Window is officially Jan 5th to Jan 10th. Really this means that any potential approval orders are going to come on either Monday Jan 8, Tuesday Jan 9, or Wednesday Jan 10. Mark your calendars people. https://t.co/8ob8Y6pgU5 — James Seyffart (@JSeyff) December 1, 2023 On Dec. 1 Bitcoin pioneer Anthony Pompliano commented on the rise in crypto-related equities. “First, investors were buying bitcoin, then Ether, and now a plethora of other crypto assets that push them further out on the risk curve,” he noted. Crypto Equities Are Outperforming Bitcoin By 2x Most of the investor interest in cryptocurrencies has historically been concentrated in the digital tokens. Retail investors were first to the party, followed by family offices, corporations, and financial…
Filed under: News - @ December 3, 2023 12:00 pm