CoinShares’ Meltem Demirors Believes Bitcoin ETF Approval Will Not Be Bearish
Meltem Demirors, the chief strategy officer of CoinShares, a market intelligence firm, believes that the potential approval of spot market Bitcoin exchange-traded funds (ETFs) will not have a negative impact on the leading cryptocurrency. In an interview with CNBC Television, Demirors states that the continuous investment flows into crypto exchange products indicate strong demand for Bitcoin.
Demirors suggests that the approval of spot-based Bitcoin ETFs could result in billions of dollars flowing into BTC. She explains that there is ongoing demand for Bitcoin, and the launch of new products is expected to lead to increased buying activity. Demirors also notes that asset managers may take longer to issue ETFs based on riskier digital assets due to the lack of a long track record.
Bitcoin Trading at $44,100
At the time of writing, Bitcoin is trading at $44,100.
Hot Take: Potential Approval of Bitcoin ETFs Could Boost Demand
Meltem Demirors from CoinShares believes that the potential approval of spot market Bitcoin exchange-traded funds (ETFs) will not be a bearish event for Bitcoin. She points out that investment flows into crypto exchange products indicate strong demand for BTC. Demirors expects billions of dollars to flow into Bitcoin if spot-based ETFs are approved. While she acknowledges that it may take time for asset managers to issue ETFs based on riskier digital assets, she emphasizes the tremendous investor demand for cryptocurrencies. Currently trading at $44,100, Bitcoin continues to attract attention as it maintains its limited supply and unique properties.
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