Category: Forex News

Deutsche Bank on what's drivng Bitcoin: "becoming increasingly institutionalised"

Deutsche Bank on crypto, and the surge of adoption. On Bitcoin:

  • the largest driver of the rally in recent weeks was likely the SEC’s approval of a spot Bitcoin ETF on January 10th
  • Since then such funds have seen nearly $7.9bn of inflows.
  • Blackrock and Fidelity have seen around $14bn of inflows alone, more than making up for the outflows from Grayscale, which had formerly dominated regulated Bitcoin investing. It converted from a trust to an ETF at the same time.
  • more ETFs are coming, which is increasingly institutionalising the crypto asset class.
  • Other things to watch are the fourth Bitcoin halving in April, where the new coins available to miners halves to maintain scarcity, and also more clarity on regulation coming up.
  • So whether you’re a cynic or a convert, whether you think it’s cheap or in a bubble, what’s clear is that Bitcoin is becoming increasingly institutionalised.

This article was written by Eamonn Sheridan at www.forexlive.com.


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