It has been just revealed the fact that institutions are betting on Bitcoin and this is based on huge amounts of cash for BTC products. Check out the latest reports about the matter below.

Institutions hope for a BTC rally

According to Meltem Demirors, the Chief Strategy Officer (CSO) at CoinShares, an investment firm specializing in digital assets, institutional investors seem to be anticipating a Bitcoin (BTC) rally in the near future.

In a recent interview with CNBC, Demirors highlighted that investors have been increasingly investing money in Bitcoin-related investment products.

“If we look at flows into Bitcoin products, we have seen six weeks of consecutive [inflows].

We saw a little bit of an uptick in flows in August, then we traded really flat, very low volumes.

The last six weeks we have seen a lot more activity, a lot more trading volume. We’re now at $760 million of flows into Bitcoin products in 2023. We have exceeded the levels in 2022. So I think those are all indicators that institutional buyers are starting to position around Bitcoin potentially rallying into year-end and into Q1 of next year.”

According to Demirors, there is a high possibility that the US Securities and Exchange Commission (SEC) will give the green light to a Bitcoin spot market exchange-traded fund (ETF) by the end of 2021.

However, she emphasizes that even if the SEC approves the much-awaited Bitcoin investment product, it may take some time for investment capital to pour into a Bitcoin ETF.

“I think there’s a lot of enthusiasm. The question is how quickly will those flows materialize. I think it might take a few quarters but again, there’s just this tremendous demand.”

Bitcoin is trading at $37,369 a thet time of writing this article. Stay tuned for more news from the crypto space and make sure to keep your eyes on the market as well.

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