The first American Bitcoin futures ETF, the ProShares ETF, was launched in October in 2021, when massive increases were seen in cryptocurrencies. After the launch of the ProShares ETF, there has been a revival in the cryptocurrency market.
Noting the positive impact it has had on the cryptocurrency market, a Bloomberg analyst stated that he believes a spot Bitcoin ETF will attract more investors than a futures ETF.
Noting that the ProShares Bitcoin ETF, approved by the SEC, attracted great attention and the fund raised $1 billion in two days, Bloomberg analyst argued that a spot Bitcoin ETF could also raise billions of dollars from investors.
The analyst noted that investor demand is likely to increase further if a spot Bitcoin ETF is approved because, unlike a direct spot Bitcoin ETF, futures-based products in a futures ETF are vulnerable to risks.
Emphasizing that the amount invested in crypto money funds has doubled in his report this year, the analyst stated that institutional companies also want a spot Bitcoin ETF.
Bloomberg Intelligence ETF analyst James Seyffart said he thinks Bitcoin spot ETFs will bring much more assets to this space.
“I can’t help but think that if we had more efficient structures like spot ETFs in the US, the holdings in this space would be even greater.”
*Not investment advice.