CoinShares Strategist Talks Bitcoin ETFs and Market Growth
![CoinShares Strategist Talks Bitcoin ETFs and Market Growth](https://coinspress.com/wp-content/uploads/2023/12/btc-etf-image-915x600.webp)
The chief strategy officer at CoinShares, Meltem Demirors, shared insights on the potential impact of forthcoming approval for spot market Bitcoin (BTC) ETFs.
Demirors expressed optimism that the approval won’t negatively affect the leading cryptocurrency. In an interview with CNBC Television, Demirors highlighted the continuous investment flow into crypto exchange products (ETPs), emphasizing the persistent demand for Bitcoin.
Demirors projected that the approval of spot-based Bitcoin ETFs could usher in substantial capital inflows, potentially reaching billions of dollars into BTC. She reasoned that the introduction of these products could lead to significant buying of Bitcoin due to ongoing demand, citing instances of substantial fund seeding and rumored participation from entities like BlackRock.
Highlighting Bitcoin’s limited supply as a key factor, Demirors dismissed the idea of this development causing a “sell-the-news event.” However, she expressed caution regarding the readiness of asset managers to issue ETFs based on riskier digital assets, noting that the market lacks the depth and liquidity seen in Bitcoin.
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Regarding other crypto assets, Demirors noted the need for a longer track record before ETF issuances become viable. She emphasized that while there is considerable investor demand, the market’s comfort level with assets beyond Bitcoin might take time to develop due to the lack of established history and market depth.