Tony Ashraf, General Manager of BlackRock, one of the world’s largest asset managers, spoke about spot Bitcoin ETFs.
BlackRock General Manager Tony Ashraf spoke on a panel about Bitcoin ETFs at the Digital Asset Conference in London. Ashraf interpreted the intense interest and money flow since the US approval of spot Bitcoin exchange-traded funds as the emergence of previously suppressed demand:
What we’ve really seen over the last few months is the emergence of demand that has been suppressed for a long time.
Over the past 2 months, there has been a flow of over $10 billion into spot Bitcoin ETFs. He emphasized that spot Bitcoin ETFs attracted many new investors, both institutional and individual, highlighting the importance of regulated markets once again.
There are 3 important drivers for spot Bitcoin ETFs!
Continuing his speech, Tony Ashraf pointed out that the demand for spot Bitcoin ETFs is based on three fundamental driving forces, detailing them clearly.
He emphasized that the first of these 3 factors is the changing demographic structure from a macro economic and wealth perspective. Second, he discussed the maturity of the cryptocurrency sector in qualitative terms.
He indicated that venture capitalists and major institutions are beginning to flock to the cryptocurrency sector, implying that the sector is gradually turning into the big leagues.
Lastly, Ashraf noted that global regulatory agencies are taking constructive steps to develop laws regarding the cryptocurrency market, such as Bitcoin, increasing confidence in the market. Increased confidence has begun to attract large amounts of liquidity and big players to the sector.
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