Nate Geraci, one of the famous names of the ETF world, recently shared on X Bitcoin He criticized some early claims about the collapse of exchange-traded funds (ETFs).
Despite the recent nearly $850 million debut, Geraci believes the game is not over yet. The analyst pointed to the wildly successful launch of these ETFs, which have managed to attract nearly $50 billion worth of assets under management.
Additionally, Geraci noted that Registered Investment Advisors (RIAs) and brokerage platforms have yet to approve the Bitcoin ETF for use, which means there is a lot of untapped potential.
Geraci wrote in a later article that initially Bitcoin ETFIt reminded me of how many people predicted that there would be no demand for ‘s.
Geraci expressed that he was disturbed by a news recently published by the Financial Times, which pointed out that the demand for this much-talked-about product had decreased. BlackRock’s ETF somehow attracted $576 million worth of inflows. At the same time, their opponents recorded almost no entries. At the same time, Grayscale’s GBTC was outpacing Bitcoin with record outflows.
Bitcoin ETFs are now in a “dead zone” after a brief period of euphoria, Marex’s Ilan Solot told the Financial Times. James Butterfill from CoinShares also stated that some investors were left on the sidelines due to the rapidly falling Bitcoin price.
Despite the short-term turmoil, industry heavyweights remain optimistic about the long-term prospects of Bitcoin and its ETFs.
Analysts point to the halving event in April that has historically boosted Bitcoin’s price.
As of press time, the price of the flagship cryptocurrency is hovering just above the $67,000 level.
