Bianco Research CEO: Bitcoin ETFs Will Become an Instrument of Adoption in the Future
According to former Wall Street analyst Jim Bianco, Bitcoin exchange-traded funds (ETFs) in the United States, which launched earlier this year, still need time to become a viable option for adoption, rather than just a niche investment tool.
Despite the initial excitement surrounding their launch, Bianco believes that these ETFs have not reached their full potential, as evidenced by recent outflows, holders experiencing losses, and a lack of significant investment from institutional players.
According to data from Farside Investors, there has been a net outflow of over $1 billion from the 11 US Bitcoin ETFs in the past eight trading days, and the overall assets under management for these ETFs have decreased from $61 billion in March to $48 billion currently.
Bianco concludes that while the concept of “build it, and they will come” may have worked in the past, it is not applicable to the current Bitcoin ETF market.
