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Crypto outlook: new flows needed to mark the end of the crypto winter
The sentiment in the crypto industry turned positive after BlackRock filed for a spot bitcoin exchange-traded fund (ETF) in the US in June 2023. BlackRock is not the first nor the only ETF issuer filing for an application, but it is a leading ETF issuer with large market weight and gives credibility to the crypto space. Since the BlackRock filing, the price of bitcoin is up 11% while the price of ether has declined by approximately 5%1. The industry lacks a clear short-term catalyst. In fact, in the short-term, bitcoin could face some selling pressure from potential sales of Mt. Gox creditors2, which are expected to ... (full story)