Bitcoin spot ETFs increase BTC demand to the tune of $30 billion, according to a report said NICE. The crypto trading firm estimates that there are $27.6 billion in such products in place, compared to $210 billion invested in funds for gold, with which bitcoin is often compared. “Bitcoin is about 3.6x more volatile than gold, which means that on a volatility equivalent basis, investors need 3.6x less bitcoin than gold on a dollar basis to get as much risk exposure. However, that would result in almost $30B more demand for a bitcoin ETF,” wrote NYDIG. The possibility of a spot bitcoin ETF in the US looks more likely since BlackRock submitted an application to list one in a “surveillance-sharing” agreement, which the SEC deems necessary to prevent market manipulation.
