The asset management firm Bitwise, which published its forecast for Bitcoin, which continues to rise especially with the influence of ETFs, thinks that the ceiling of the cryptocurrency is too high.
With the decision taken in the USA in recent months, 11 applications were allowed to include Bitcoin (BTC) in the ETF. The leading cryptocurrency, which increased for a while due to this effect but returned to the level of 49 thousand dollars, started to rise again with the demand over time and yesterday, 2 years later. Leaving 50 thousand dollars behind again He succeeded. According to Bitwise, this rise is just the beginning.
Demand far exceeded expectations
ETF (Exchange Traded Fund) allows using cryptocurrencies to invest in various assets in addition to their own valuation. The total amount evaluated in this way reached 28.35 billion dollars, increasing the market volume to 39.8 billion dollars. The trading volume in the last 24 hours is $1.38 billion found it.
Chief Investor at Bitwise Asset Management, manager of the fourth largest Bitcoin ETF fund Matt Hougan“Continuous flow and volumes are higher than I expected. The fact that there were strong positive flows in 18 of the first 19 days, not just the first day flows, is really pleasing. Take me in on where the price of Bitcoin is going and its importance in the world. extremely optimistic makes it happen.” he said.
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Hougan will also be available on more platforms over time. B.itcoin funds He thinks that demand will increase as it begins to be used. Hougan also states that platforms with billions of dollars of funds are currently continuing negotiations. He states that he expects Bitcoin ETFs to be “the largest ETF offering ever” in the next month. He adds that he believes that growth in this area will continue over the next 18 months.