Given that bitcoin ETFs directly hold the underlying asset, there could also be organic demand for bitcoin itself, said El Isa. “This could potentially drive up its value as more investors, including institutional allocators like BlackRock and Fidelity, seek to hold the asset within the ETF. This, in turn, could have a cascading effect, further solidifying bitcoin’s position in the global financial landscape.”
Source: https://www.coindesk.com/markets/2024/01/10/why-is-a-bitcoin-etf-a-big-deal-the-gold-revolution-helps-explain/?utm_medium=referral&utm_source=rss&utm_campaign=headlines