Bitcoin
Bitcoin bulls may be encouraged to see that assets at Crypto funds are approaching almost $1 billion of inflows this year according to Bloomberg. This in turn came from a 'functions for markets' article written by portfolio and equity specialist Jamie Douglas Coutts.
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Some of this means that the GrayScale Trust (the world's largest bitcoin fund and the first investment vehicle to report to SEC) has lost its premium appeal as alternative ways of investing in crypto currencies have emerged. A JP Morgan survey from last week revealed that 78% of institutional investors are not planning to invest in crypto currencies. However, over half of the respondents believe that crypto is here to stay. The respondents were representing around 1500 different institutions. Only 21% of those surveyed thought Bitcoin was a 'temporary fad'. As more and more Bitcoin ETF's become available that will mean that retail investors will have more and more options to express their interest in crypto's. Also, as long as companies like PayPal and Tesla keep showing their interest and involvement dip buyers can still be expected. The more ETF products that appear the more likely that will be to attract institutions who are wanting regulated mediums to enter the crypto market.
