Report: Bitcoin ETF Could Amass $300 Million in Assets (If Approved)
A new investor note published today by analyst Needham & Company projects that a bitcoin exchange-traded fund (ETF) could attract as much as $300m in new assets in its first week alone. Writing about the potential impact of an ETF on the nascent market, analyst Spencer Bogart speculates that such an approval is likely to have a "profoundly positive" effect on the price of bitcoin, and that the $300m estimate is "conservative". "The resulting effort to source the underlying bitcoin for the trust would likely drive the price of bitcoin up significantly,"....
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