According to JPMorgan’s analysis, spot Bitcoin ETFs are more likely to capture share from other products in the sector rather than attract new capital.
According to the JPMorgan team, spot Bitcoin ETFs will be invested along with money from other investment vehicles and exchanges in the sector. up to 36 billion dollars money can flow.
This may come from Bitcoin futures ETFs. 3 billion dollarsGrayscale may exit Bitcoin Trust 3-13 billion dollars and crypto exchange users can transfer 15-20 billion dollars was included.
Analysts are skeptical that new capital will enter the cryptocurrency market with spot Bitcoin ETFs.
In JPMorgan’s analysis, “Instead, we expect new capital to enter the crypto space. legal regulations and especially regulators, the crypto ecosystem will be integrated into the traditional financial system over time. how close to We believe that what they allow will have consequences.” It was said.
Analysts said the fund was withdrawn due to profit-taking by speculative investors who invested in Grayscale Bitcoin Trust before it became an ETF. 3 billion dollars will be released, Grayscale’s current Unless it reduces the 1.5% management fee. extra 5-10 billion dollars He said there could be a further decline.
Other issuers, such as BlackRock, charge transaction fees like 0.25% keeps it at lower levels.