A leading brokerage firm Canaccord GenuityIn a research report published by Bitcoin (BTC) The increase in assets under management for exchange-traded funds (ETFs) is not only significant in itself, but also fundamental cryptocurrency It revealed that it created a significant additional demand for its unit.
Bitcoin ETFs Lead to Increase in Spot Demand, Canaccord Reports
During the 2024 Digital Assets Symposium held last Thursday, Canaccord hosted leaders from 29 crypto-related companies to learn about current market dynamics.
According to analysts led by Joseph Vafi, it has become increasingly obvious that ETFs not only attract investment but also increase demand for spot BTC.
The report only included comments from Swan Bitcoin, a Bitcoin investment advisor, which showed a significant increase in demand for spot BTC.
This increase is attributed to ETFs driving the BTC demand curve while the supply curve struggles to respond adequately.
Canaccord emphasized that many investors, both individual and institutional, prefer BTC spot over ETFs due to the potential to hedge risk and generate returns on assets as the asset class matures.
Going forward, Canaccord expects spot Bitcoin ETFs to be added to various registered investment advisor (RIA) platforms and major broker/dealer brokerages.
This expanded distribution is expected to prompt investment advisors to form opinions on Bitcoin, even if they had previously ignored the cryptocurrency.
The report also stated that sovereign wealth funds and other institutional investors may already have investments in Bitcoin and that announcements from these institutions are expected in the coming months.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!