Case for cryptos 'remains weak' despite bitcoin spot ETF approval, UBS says | Crypto Craft

  • Case for cryptos 'remains weak' despite bitcoin spot ETF approval, UBS says

    From thisismoney.co.uk

    The approval of bitcoin spot ETFs in the US theoretically opened-up crypto markets to billions of dollars of fresh capital, but the investment case for the digital assets 'remains weak', according to UBS. The US Securities and Exchange Commission earlier this month gave the green light for the launch of 11 Exchange-Traded Funds tracking the price of bitcoin, with launches from Wall Street giants BlackRock and Fidelity as well as less well-known firms. It was anticipated to be the immediate trigger of a new era for the world's biggest cryptocurrency, with new investors lured by plentiful liquidity, low costs and easy ... (full story)

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ar007
Jan 26, 2024 8:34am
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You may have whatever view, BTC has it's own view. There is no GOV that can control it, so if there is a sell pressure from GBTC, we just need to wait until it ends. As we see already today, people even don't want to wait, they are already buying.
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ar007
Jan 26, 2024 8:37am
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bye bye, UBS
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