IBIT is on course to make ETF history today. During the first 30mins of trading, the product attracted $400m in inflows. This means it could well be up to as much as $3 billion in AUM by the time of the closing bell. - Sui Chung, CEO of CF Benchmarks
This speaks to the level of hitherto untapped demand from investors - who can't or won't custody physical bitcoin - to gain bitcoin ownership through a regulated financial product. - Sui Chung
The ETF will most likely create more demand which will therefore lead market makers to assign more capital to support that liquidity. Crypto market liquidity still hasn't fully recovered from the FTX crash in November 2022. This could therefore benefit the entire crypto ecosystem, particularly as it starts to attract the attention of this new group of investors. - Sui Chung
#sec #bitcoin-etf #inflows #ishares-bitcoin-trust #blackrock #spot-bitcoin-etfs #record #crypto-industry #liquidity #investors
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