During the ETF Approval Period, Funds Accumulate $13 Billion in BTC, Despite ETFs Initially Being Seen as a Liquidation Tool
In the period following the approval of Exchange-Traded Funds (ETFs), investment funds have amassed approximately $13 billion in Bitcoin (BTC). This accumulation comes despite the original perception of ETFs as mechanisms primarily for the liquidation of pre-accumulated assets.
This accumulation led the market to adopt a predominantly long orientation, proving resilient to various forms of Fear, Uncertainty, and Doubt (FUD) that failed to significantly impact the price.
It stands to reason that the approval of an Ethereum (ETH) ETF, coupled with the successful update of Dencun, might once again orient the market towards a long bias.
To consider that Ethereum could similarly propel the market upwards as strongly as seen in other contexts would be folly. The team’s actions are not linear but aimed at ergonomic and phased growth, focusing on incremental progress rather than abrupt surges.
Beyond the ETH-ETF, the Dencun update is poised to benefit the astute and truly knowledgeable traders, highlighting a scenario where only the savvy will likely reap rewards.