$9.6 Billion in 3 Days — ETF Analyst Highlights Remarkable Early Success of Bitc

[sirty143]

$9.6 Billion in 3 Days — ETF Analyst Highlights Remarkable Early Success of Bitcoin ETFs

On Tuesday, the third day of trading for the U.S.-based spot bitcoin exchange-traded fund (ETF), there was a noticeable decrease in activity with trading volumes falling by 37% from the levels seen on Jan. 12, 2024... See more for yourself here.

Your opinion is greatly appreciated.

[Aanuoluwatofunmi]

Bitcoin ETF may be a success to them from there own side, but what about us in the bitcoin community, has it price use as ETF traded fund make the required expectations we want to have from it or not, there's a lot to derive and talked about when it comes to the market economy of bitcoin and the approval given by the SEC concerning the ETF, maybe we should still give it more time to see what is likely to happen subsequently after the approval.

[joniboini]

expectations we want to have from it or not, there's a lot to derive and talked about when it comes to the market economy of bitcoin and the approval given by the SEC concerning the ETF, maybe we should still give it more time to see what is likely to happen subsequently after the approval.

I think we also need to specify which part of the community are we talking about. Some people don't want ETF since it means the government or any third party can influence the market to a greater extent although it is unlikely to affect Bitcoin development itself. Some people want it so that BTC will be more valuable and mainstream, basically increasing their wealth. Some don't really care and will just trade BTC as usual.

Personally, I'm a bit worried for the future. While I can still use BTC as usual, I don't want my capital to get wiped out just because some millionaire wants to increase their bag. On the other hand, I doubt they can easily do it since halving and other stuff will make BTC even more valuable. Maybe they will FUD really hard or argue that ETF needs to be stopped just because they can start it again to pump their bags, but who knows really. As long as we can monitor the market, there should be a chance to avoid that. BTC development probably won't get affected, and even if they did (removing any privacy etc), I'm pretty sure the community will just fork it sooner or later. CMIIW.