The debut of spot Bitcoin ETFs in January 2024 marked a significant turning point for the cryptocurrency market, according to experts like Lynn Martin, president of the New York Stock Exchange Group. These exchange-traded funds are being hailed for their role in boosting liquidity and driving wider acceptance of cryptocurrencies among the general public.
Read MoreRecent reports indicate that issuers of Spot Bitcoin ETFs now possess nearly 5% of the total Bitcoin supply. This achievement highlights the increasing demand and swift growth of Spot BTC ETFs in the market, providing institutional investors with a comparatively low-risk method to obtain Bitcoin.
Read MoreOn May 16, there was a notable increase in inflows for the US spot Bitcoin ETF, reaching $257 million. This surge can be attributed to the rising optimism and enthusiasm surrounding Bitcoin ETFs.
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