Institutional investors have begun to show more interest in Bitcoin over the past month through exchange-traded products.
According to the report shared by K33 Research, Bitcoins in stock market investment products reached record levels with an increase of 27,095. The momentum over the past month is stronger than what was seen after BlackRock filed for a spot Bitcoin ETF in the summer.
According to K33 Research analysts, in addition to the flow in exchange-traded products, the mobility in the CME exchange is also high, Institutional investors show high demand for Bitcoin pointing out.
The annual premium for both Bitcoin and Ethereum futures on CME has been above 15% for three weeks. Additionally, the size of open Bitcoin positions on the exchange exceeded 110,000 BTC last week, thus overtaking CME as the world’s largest derivatives Bitcoin exchange.
The US Securities and Exchange Commission (SEC) is evaluating 12 different spot Bitcoin ETF applications. If the Commission considers these applications confirm all at once If he wishes, he will be able to do this until November 17 at the latest. If this date is exceeded, not all applications will be approved at the same time and attention will shift to the deadline of January 10.
Analysts said, “In such a scenario, the momentum in the crypto markets could slow down as a significant development regarding ETFs would likely have to wait weeks.” said.