Bitcoin ETFs Are 'Not An Adoption Vehicle' With Holders On $2B Unrealized Losses, Analyst Says
Portfolio Pulse from Khyathi Dalal
Macro analyst Jim Bianco warns that Bitcoin ETFs are not driving new adoption, with holders facing $2.2 billion in unrealized losses. Despite initial inflows, the total assets in Bitcoin ETFs have declined, and most investments come from existing market participants rather than new ones.
September 09, 2024 | 1:30 pm
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NEGATIVE IMPACT
Bitcoin ETFs are not attracting new investors as expected, with current holders facing significant unrealized losses. The total assets in Bitcoin ETFs have decreased, and inflows have slowed, indicating a lack of new adoption.
The decline in total assets and slowed inflows into Bitcoin ETFs suggest a lack of new investor interest, leading to unrealized losses for current holders. This negative sentiment could impact Bitcoin's short-term price.
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IMPORTANCE 70
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