Deutsche Bank on crypto, and the surge of adoption. On Bitcoin:
- the largest driver of the rally in recent weeks was likely the SEC’s approval of a spot Bitcoin ETF on January 10th
- Since then such funds have seen nearly $7.9bn of inflows.
- Blackrock and Fidelity have seen around $14bn of inflows alone, more than making up for the outflows from Grayscale, which had formerly dominated regulated Bitcoin investing. It converted from a trust to an ETF at the same time.
- more ETFs are coming, which is increasingly institutionalising the crypto asset class.
- Other things to watch are the fourth Bitcoin halving in April, where the new coins available to miners halves to maintain scarcity, and also more clarity on regulation coming up.
- So whether you’re a cynic or a convert, whether you think it’s cheap or in a bubble, what’s clear is that Bitcoin is becoming increasingly institutionalised.
![Bitcoin weekly candles 08 March 2024 2](https://images.forexlive.com/images/Bitcoin%20weekly%20candles%2008%20March%202024_id_ea73c28f-5740-4266-a7a7-6da48cb22b56_size900.jpg)