It has been widely accepted that Bitcoin ETF applications have been the main driver for Bitcoin’s return to the April 2022 level at above $40k. The thesis is simple: with a new layer of institutional legitimacy, the capital pool for Bitcoin inflow would deepen.
From hedge funds and commodity trading advisors (CTAs) to mutual and retirement funds, institutional investors have easy access to diversify their portfolios. And they would do so because Bitcoin is an anti-depreciating asset.
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