BasEx | Glassnode Report: $70 Billion Inflow into BTC ETF
Capital Inflow into BTC Spot ETF to Exceed $70 Billion — Glassnode
26.11.2023
Capital Inflow into BTC Spot ETF to Exceed $70 Billion — Glassnode

The launch of the first spot Bitcoin ETF in the United States could bring about $70 billion into the market of the leading cryptocurrency

This will have a significant impact on the entire crypto market and contribute to the growth of the value of the main cryptocurrency. This conclusion was reached by analysts at Glassnode.

In their study, they considered two potential sources of capital inflow: the stock market and the gold market. According to their estimates, about 10% of the assets under management in exchange-traded funds (ETFs) such as SPY, Vanguard Total Stock Market, and Vanguard Total Bond Market, could be redirected into Bitcoin.

This assumption is supported by the current financial situation, Glassnode believes. In times of stock and bond instability, BTC appears as a more attractive alternative.

As for gold, experts predict that about 5% of the assets managed in this area will move into Bitcoin. Despite gold's popularity as an investment asset, BTC offers more unique characteristics.

Analysts also predict an increase in the value of the leading cryptocurrency. It is expected that in the first month after the launch of the spot Bitcoin ETF, the price of this cryptocurrency will increase by 6.2%, and within the first year - by 74%.

This expert conclusion is based on the historical correlation between capital inflows from ETFs and changes in asset values.

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