With Hong Kong asset managers somewhat reluctant to submit applications for the new ETF, a series of multibillion-dollar firms from Mainland China have entered the market.
The scale of inflows to the ETF could provide enough demand side volume to negate the traditional price volatility caused by increasing sell volume as price rises.
In the aftermath of the recent Bitcoin ETF approvals, BlackRock's Larry Fink revealed that soon everything will be "ETF'd" and tokenized, threatening to fractionalize not just existing assets and commodities, but the natural world, reducing most living things into Wall Street financial products to be traded on a single, universal ledger.
Bitcoin Spot ETFs going live is a signal that Bitcoin isn't going anywhere, and politicians are going to have to start developing strategies to confront that reality.
Bitcoin’s volatile nature has led it to take a plunge of around 5%. The greatest victims have been over-leveraged derivative positions, as the core momentum seems completely intact.