Bitcoin ETF Spot 'Nailed' for 2024: K33 Report

K33 analysts, However, warn that institutional traders can look has take profits following THE foreseen approval.

News Join We on social networks

THE approval of A place Bitcoin exchange traded funds (ETF) by Jan. ten, 2024, appears has be together In rock, with A new series of ETFs updates only add further has THE probability of A approval, say K33 research analysts.

In A Dec. 19 report, K33 head of research Anders Helseth And senior analyst Vetle One of said THE recent round of ETFs updates — with the declarants including black rock And ARK Invest NOW All right has A cash creation facility For their funds — means that A approval East " nailed down on" For January.

In addition, THE report Underlines THE strength of Bitcoin (BTC) price action on THE pass week, with analysts noting that place trade volumes of BTC had has been substantially upper that In previous month.

"This East indicative of BTC strong rally attract new buyers while Also motivating profit taking by sellers, leading prices has consolidate on pupil trade volume."

Despite THE strength In Bitcoin place volumes, THE report note that open interest on BTC perpetual contracts had fallen has new annual the socks, which watch "No panels of retail foam."

Alternately, institutional investors on THE Chicago Mercantile Exchange (CME) had only increase their appetite For Related to Bitcoin risk, with FMC open interest growth by 3,100 BTC In THE last week.

Institutional derivatives volumes ...