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Tony Ashraf, General Manager of BlackRock, one of the world’s largest asset managers, spoke about spot Bitcoin ETFs.

BlackRock General Manager Tony Ashraf spoke at the London Digital Asset Conference about Bitcoin ETFs on a panel. Since the approval of spot Bitcoin exchange-traded funds (ETFs) by the United States, the intense interest and influx of money have been interpreted by Ashraf as the emergence of demand that has been suppressed until now:

What we’ve really seen over the last few months is this pent-up demand being unleashed.

In the last 2 months, an inflow of over $10 billion has been seen into spot Bitcoin ETFs. The experienced figure emphasized that spot Bitcoin ETFs have attracted many new investors, both institutional and individual, highlighting how important regulated markets are once again.

There are 3 important driving forces for spot Bitcoin ETFs!

Continuing his speech, Tony Ashraf stated that the demand for spot Bitcoin ETFs is based on three fundamental driving forces, detailing them clearly.

The first of these 3 factors is the changing demographic structure in terms of macroeconomic environment and wealth, he emphasized. Second, he addressed the maturing of the cryptocurrency sector from a qualitative perspective.

He implied that the venture capitalists and major institutions are starting to flock to the cryptocurrency sector, indicating that the sector is slowly turning into the big leagues.

Finally, Ashraf noted that global regulatory bodies have been taking constructive steps and developing laws about the cryptocurrency market, including Bitcoin, which has increased confidence in the market. Increased confidence has started to attract large amounts of liquidity and major players to the sector.

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