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A new assessment proposed by renowned Bloomberg analysts Eric Balchunas and Andre Yapp has caught the internet by surprise. Balchunas and Yapp suggest that Bitcoin ETFs will soon surpass gold ETFs in assets under management within less than two years.
Analysts claim that if BTC ETFs continue their recent price surges, they may quickly outpace gold ETFs in terms of positive investments and popularity.
Analysts quickly shared their recent assumptions about why Bitcoin spot ETFs are poised to gain market favor.
In a tweet shared by the "Bitcoin" magazine, BI analysts noted, "Gold's pain is how BTC ETFs will profit in the near future." Further elaborating, analysts claimed that these ETFs gained incredible attention due to lack of interest and gold price declines.
The tweet stated, "The initial success of spot Bitcoin ETFs was fueled by gold ETFs' price and interest decline. This triggered an asset war."
Analysts further pointed out that Bitcoin ETFs "established just six weeks ago" garnered returns "outpacing gold counterparts by $8 billion."
Decoding the Success Path of Spot Bitcoin ETFs
Balchunas and Yapp later elevated their analysis to a new level, decoding the indicators associated with the ETFs' immense success.
"Since their launch in early January, Bitcoin ETFs have garnered around $5 billion in net new assets. $120 billion, excluding outflows from GBTC. This contrasts sharply with gold ETFs' $36 billion in outflows."
Both analysts later referred to the launch of Spot BTC ETFs as one of the most historically significant launches ever.
The analysts later shared, "While there has been little cash flow from gold into Bitcoin ETFs, their presence and enthusiasm revolve around the new funds. In many ways, this is the most successful launch in history. This adds a new dimension to Bitcoin's competition." |
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Post time 8-3-2024 20:41:43