SEC Grants Approval for Bitcoin and Ethereum ETFs, Analysts Ponder Potential for Further Acceptance

The potential of ETFs, which act as a link between cryptocurrencies and traditional markets, is significant. BlackRock’s Bitcoin ETF has quickly grown to a size of over $20 billion in just a few months. Since its launch on January 10, spot BTC ETFs have witnessed an inflow of nearly $13 billion. If this amount had been directly invested in BTC on cryptocurrency exchanges, the price of BTC would have exceeded $70,000. However, the inflows through the ETF channel increased the supply of BTC on exchanges, resulting in the impressive rally we witnessed in the first quarter. Stay up-to-date with the latest technology news by accessing NEWSLINKER.