Bitcoin has come a long way from being a niche asset favored by eccentric individuals to becoming a recognized and widely accessed asset class. The approval of Bitcoin ETFs has played a significant role in attracting institutional investment, with 10 regulated US spot Bitcoin ETFs accumulating over 922,000 BTC by early October. These ETFs have proven to be a successful investment for institutions, with an average daily inflow of $50 million. The success of Bitcoin ETFs has also paved the way for ETFs for other cryptocurrencies, such as ETH and SOL. ETFs have made it easier for ordinary investors to gain exposure to Bitcoin and the broader crypto market without the need to manage digital assets themselves. Factors such as global tensions and persistent inflation have contributed to Bitcoin's impressive rise in 2024, further increasing its appeal as an alternative asset. Bitcoin's journey from being considered "magical internet money" to being embraced by pension funds and Wall Street investment firms has been facilitated by the emergence of ETFs as the primary gateway for institutional investors.



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