As the leader of the market, Bitcoin opened the doors of investment funds circulating in early 2024 when these products were highlighted in early 2024 in early 2024 (initially, then 12) in the United States.
Ethereum followed its example in July, and now the question is not, but it will have the encrypted currency for the exchange in the United States, where some prominent competitors were XRP, Sol, Doge and LTC.
In an attempt to summarize the importance of Crypto ETF in just one minute, CEO of Ripple, Brad Garlinghyus, explained two main reasons behind the importance of these financial compounds.
Institutional access
Before the launch of the Sot BTC ETF in Wall Street, the institutional market participants had to rely on unusual access points (for them) to obtain Bitcoin’s exposure, such as the exchange of cryptocurrencies and self -fraud. However, the introduction of these financial compounds has completely changed the game for them, which is evident from the amazing demand for most of the investment funds traded in Bitcoin, especially IBIT in Blackrock.
“Therefore, this was the first time that institutions have been able to go in Wall Street and trade directly in encryption,” Garlinghouse Make up.
The capital, which was previously unable to enter the coded currency space, such as the endowment, pension funds, or even joint investment funds, have now had ten options to do so.
Institutional imparting to the industry
Garlinghouse pointed out that the second reason completes the first, because it simply changes the focus in the coded currency industry, at least for larger projects, most of which are on investors and larger institutions.
As mentioned above, IBIT broke from Blackrock multiple records in terms of net flow for a year and a half.
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It has become a giant as its total holdings are twice the remaining investment funds circulating in Bitcoin combined. As of Friday, BTC ETF of Blackrock had approximately $ 48 billion in AUM as it continues to control net flow. Ibit has not seen one day in red since the market was broken in early April. Consequently, Garinghouse predicted that it will eventually close the gold -traded investment funds as well.
Regarding the local ETF classification, the news from SEC is expected to be somewhat with the agency continues to delay a decision on two files. Polymarket explains that the chances of the presence of ETF XRP that strikes American markets this year is more than 80 %, but the percentage decreases to 21 % when the deadline is set on July 31.
However, Ripple has seen some success on the ETF front, where a few futures for trading were operated last month or so.
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