🚀 Bianco Research CEO: Bitcoin ETF has not yet become the main force of TradFi adoption
🧐 Since the approval of the Bitcoin spot ETF at the beginning of this year, we have been looking forward to it bringing a new wave of investment to traditional finance (TradFi). But now it seems that this feast may need more spice.
🗣️ Jim Bianco, CEO of Bianco Research, recently posted on social media X that the performance of Bitcoin ETF has not reached the level of popularity we expected. Although everyone had high hopes for it at the beginning, investor enthusiasm seems to be slowly cooling down in the past August.
📉 At present, the asset management scale of all 11 US Bitcoin ETFs has dropped sharply from the peak of US$62 billion in June to only US$51.3 billion, the lowest level since the launch of trading four months ago. Moreover, as funds continue to flow out, ETF holders may face asset losses of up to US$2.2 billion.
💼 Bianco also mentioned that although we hope that Bitcoin ETFs can attract more traditional financial investors, the reality is that these funds have not received much new money. Most of the inflows actually come from holders who transfer cryptocurrencies from the chain back to traditional financial accounts.
🔮 But don't worry, Bianco believes that Bitcoin ETFs still have the potential to promote the adoption of TradFi. He predicts that with the arrival of Bitcoin halving in 2028 and the development of on-chain tools such as DeFi and NFT, Bitcoin ETFs may usher in a new spring.
🌱 Bianco finally reminded everyone to be patient. The market needs time to mature and technology needs time to develop. Therefore, we still need to go through several seasons, including one or two winters, and we must wait patiently for its development and breakthroughs.
💬 Do you agree with Bianco's point of view? Do you think Bitcoin ETF can eventually become the ultimate tool to promote the adoption of TradFi? Share your thoughts in the comment section!
