Analyst Backs Spot Bitcoin ETFs To Surpass Gold ETFs In Cumulative Net Inflows

Quick Summary:

This massive influx of investments occurred as Bitcoin surged by 9.23%, approaching a critical resistance zone at the $70,000 price mark.  Amidst this market euphoria, Nate Geraci has predicted the spot Bitcoin ETFs to record a higher cumulative total netflows than the Gold ETFs in the next two years.

Related Reading: Bitcoin Breaking Out Of 7-Month Accumulation Channel: Expert Predicts Further Upside Spot Bitcoin ETFs To Surpass Gold ETF In 2 Years, Analyst Says The spot Bitcoin ETFs rattled the global financial markets this week recording net inflows of $2.13 billion according to data from SoSoValue.

This forecast is largely unsurprising considering the exponential growth of these Bitcoin ETFs since their launch on January 11.  For context, the Gold ETFs currently boast of combined net inflows of around $55 billion in comparison to $20.66 billion aggregate net inflows in the spot Bitcoin ETFs market.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: United Kingdom

Topics: Gold etf Spot Bitcoin ETF Eric Balchunas Bitcoin Nate Geraci Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-19 @ 11:00:49 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 449 words

Reading Time: 3 minutes read

Sentences: 62 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23126069

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