In any case, ETFs are simply customary funding merchandise, not manna despatched from heaven. As soon as individuals notice that, we would see a sluggish uptick in demand and worth motion for bitcoin, however not a flood of all-time-high milestones. Gold, in case you examine, didn’t instantly develop into a mainstream funding; it took years. And, it’s prone to be the identical with bitcoin.
Nonetheless, the hype across the ETF announcement exhibits how many individuals on the market desire a optimistic narrative to maneuver bitcoin larger. That, somewhat than the precise affect of ETFs, will be the necessary level right here. Regardless of the fundamentals, there’s big demand for optimistic information in crypto after the falls, crashes and scandals of the final 18 months.
