Now in Crypto, the listed area listed in the US Bitcoin exchange-traded funds (ETFS) began in October with billions of flow, predicted a crypto executive (FCA) prepared to reverse its ban on the records of crypto exchanges (ETNs) for investors.
The Bitcoin ETFS Kickstart “Uptober” with $ 3.2 billion in the second best week recorded
The US -listed areas listed in the US Second Best Best Week Flow From LaunchingSigned renewed investor optimism.
Spot bitcoin (Btc) ETFs recorded the $ 3.24 billion worth of combined -with net Positive flowing In the past week, nearly compatible with their record of $ 3.38 billion on the week ending on November 22, 2024, According to in data from sosovalue.
The figure marks a sharp rebound from $ 902 million of last week to streams. The analysts associate with the growth of the growing expectations of another cutting of the US interest rate, which improved the emotion to the risk of risk.
The growing expectations of another US interest rate triggered a “transfer of emotion,” which attracts the revised investor demand for Bitcoin ETFs, “bringing a four-week flow to nearly $ 4 billion,” Iliya Kalchev, analyst of the digital asset platform Nexo, told the cointelegraph. “At current run rates, Q4 flows can retire more than 100,000 BTC from circulation-more than double new release.”
“ETF absorption accelerates as the long -term distribution of the holder enhances, helping the BTC build a stronger base,” close to key technical support levels, he added.
The ongoing ETF flow can provide significant tailwinds for Bitcoin in October, which is the second best month for Bitcoin in terms of average return to history, often referred to as “uptober” by crypto investors.
This $ 3.2 billion week pushed Bitcoin’s price over $ 123,996 on Friday, marked more than six weeks highly seen on August 14th for the world’s first cryptocurrency, Tradingview Data displays.
“Probably” Bitcoin’s cycle will continue in some form: Gemini Exec
While the four -year cycle of Bitcoin may not play exactly like the past, that doesn’t mean the The concept is completely dead, According to a executive executive.
“I think when it comes to the four-year cycle, the fact is that we are likely to continue to see some form of a cycle,” Crypto Exchange leader Gemini, APAC region Saad Ahmed, told Cointelegraph in a token2049 interview in Singapore.
“It ultimately coming from people are really excited and overwhelming themselves, and then you want to see a crash, and then it’s kind of correction in a balance,” Ahmed said.
However, Ahmed said Growing institutional involvement In the crypto industry it can help the market absorb some of volatility. “You will see some of the volatility, kind of flag, but you will still see some kind of a cycle, because ultimately, it is driven by human emotions,” Ahmed said.
Companies will weigh as the UK prepares to reverse the prohibition of Crypto ETN
The FCA of the UK are set as soon as possible reverse a ban In Crypto ETNs for retail investors conducted in 2019.
According to a notice of August 1, the UK’s guardian is lift A prohibition on retailing retail in Crypto ETNs starting Wednesday, provided they have been exchanged with an “FCA-approved, exchange of investment based in the UK.” Unlike funds exchanged (ETF), which are still banned in the UK for retail investors, the ETNs represent debt security security tied to crypto and have not been backed by any underlying properties.
Upon raising the ban, companies with UK operations weigh on what the regulatory change for retail investors means. Blackrock, the largest managing management company in the world, has been reported Looking On ways to offer an Ishhares Bitcoin exchange product to prepare for retail trade on or after October 8.
Bitwise CEO Hunter Horsley, whose European operations of the company are headquarter in London, Says In X that he is “excited to serve more investors in our European home market for a long time.”
“Until now, the UK has been an outlier in ETNs,” Ian Taylor, board advisor at the Digital Assets Trade Association Cryptouk, told Cointelegraph. “We hope that this move will improve consumer protection and we will continue to make the case for lifting the prohibition on retail investors from accessing high-regulated derivative products.”
According to a notice in August from the FCA, any asset manager planning In order to offer ETN trade to UK investors, they need to be listed in a “recognized investment exchange.” The decision complied with consultations with companies, trade associations, and consumer groups.
