A Broad Look at the ETF Market in 2023, While Approval from the SEC is Awaited for Spot Bitcoin ETFs
The post A Broad Look at the ETF Market in 2023, While Approval from the SEC is Awaited for Spot Bitcoin ETFs appeared on BitcoinEthereumNews.com.
– Advertisement – Bloomberg’s senior ETF analyst Eric Balchunas reported witnessing $38 trillion in ETF transactions in 2023. Balchunas also emphasized that recent ETF trends indicate a new norm of consistently surpassing annual volumes of $30 trillion. With the SEC expected to make decisions on most of these applications in January 2024, expectations are high for the approval of the Spot Bitcoin ETF. Bloomberg’s senior ETF analyst Eric Balchunas examined the ETF market in 2023: Countdown for Spot Bitcoin ETFs! How Did ETFs Perform in 2023? Bloomberg’s senior ETF analyst Eric Balchunas reported witnessing $38 trillion in ETF transactions in 2023. This was generated from $8 trillion in assets, securing the second-highest ranking in ETF trading activity for the year. Despite the intense trading in 2023, it maintained its leadership in terms of activity from 2022. The record-breaking performance of the previous year is attributed to increased ETF trading activity during periods when stocks did not perform well. Balchunas also highlighted that recent ETF trends indicate a new norm of consistently surpassing annual volumes of $30 trillion. He added that this increase is supported by greater participation from institutional investors, increased ETF offerings, and a depreciation of the dollar. However, the emerging question is: How will potential Bitcoin ETFs impact overall trading activity in 2024? December 29 was marked as a critical SEC deadline, with all Bitcoin ETF applicants rushing to submit S-1 documents. Notable applicants such as BlackRock and Valkyrie were among those who updated their submissions on Friday, becoming official ETF competitors with players like Grayscale and VanEck. With the SEC expected to make decisions on most of these applications in January 2024, expectations are high for the approval of the Spot Bitcoin ETF. Bitcoin advocate Vijay Boyapati emphasized in the past that Bitcoin ETFs could unleash a…
Filed under: News - @ December 30, 2023 12:28 pm