Financial experts have ruled out that the launch of a second ETF on future on Bitcoin it would increase capital entry in this currency itself, but JPMorgan’s strategic analysts have warned that the existence of these funds is a better way to hedge against inflation than gold.
Today, Thursday, Bitcoin is up 3.5% to $ 66.11k. The launch of the second Bitcoin ETF is scheduled for Friday on the US Bitcoin Exchange.
A spokesperson for Valkyrie said the Valkyrie Bitcoin Strategy Fund will begin trading on the Nasdaq on Friday, as the company planned to trade under the BTFD name, but changed the fund’s symbol. in BTF.
The fund will follow the successful debut of the ProShares Bitcoin Strategy fund, BITO, which has raised over $ 1.1 billion in funds in just two days of trading.
BITO finished second in terms of launch momentum, with nearly $ 1 billion from document sales.
Excitement about the launch of Bitcoin ETFs in the US has pushed the world’s largest cryptocurrency to an all-time high, with Bitcoin approaching $ 67,000 on Wednesday.
Abdullah Mashat, a digital currency researcher, said that such positive news about the Bitcoin currency raises its price, as it motivates investors to turn to it for fear of missing out on the opportunity.
He expected the world’s most popular cryptocurrency to see positive moves tomorrow, Friday, as the new fund begins trading.
He said that what supports Bitcoin is also the news of the imminent inclusion of funds that invest directly in Bitcoin, and this news should affect Bitcoin to the upside in future.
He said the currency could see a correction in the next period, but it will no longer retreat to the 20,000 and 30,000 levels.
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