It’s unclear how a lot recent capital the brand new spot bitcoin exchange-traded funds (ETF) will appeal to, however important funds from different crypto merchandise are anticipated to pour in, J.P. Morgan stated in a Thursday analysis report. The market response to the U.S. Securities and Alternate Fee’s (SEC) reluctant approval of spot bitcoin ETFs has been comparatively muted, with the main focus now shifting to how a lot capital these new ETFs will pull in, the report stated. “We’re skeptical of the optimism shared by many market members in the meanwhile that quite a lot of recent capital will enter the crypto house because of the spot bitcoin ETF approval,” analysts led by Nikolaos Panigirtzoglou wrote.
