Investors may be disappointed by the initial performance of spot Bitcoin ETFs, but don’t underestimate its impact over the long term, says VanEck adviser Gabor Gurbacs.
The launch of spot Bitcoin (BTC) exchange-traded funds (ETFs) won’t likely have much impact on Bitcoin, but could eventually bring in trillions of dollars to the cryptocurrency, according to VanEck adviser Gabor Gurbacs.
In a Jan. 1 post to X (formerly Twitter), Gurbacs argued the “initial impact” of a Bitcoin ETF is being drastically overestimated — estimating it may only see net inflows of around $100 million from “mostly recycled” money from large institutional investors upon launch.
Seyffart agreed that while many are laser-focused on the short-term data points like day-one inflows into the ETF, they’re not fully appreciating the long-term impact of such a product.
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Source: https://cointelegraph.com/news/spot-bitcoin-etf-launch-let-down-but-attract-trillions-vaneck