The crypto market has been in flux since the first Bitcoin-based exchange traded funds (ETFs) were introduced three weeks ago. The new asset class has not only caught the attention of institutional investors but also provided signs of a lasting change in the crypto market’s capital flow. Contrary to many expectations, the initial enthusiasm is not a short-lived hype. Rather, the extremely high trading volumes and cash inflows indicate that Bitcoin ETFs actually have the potential to drive up the price in the long term.
2 Bitcoin ETFs in the top 10
The performance of the ETFs from the two heavyweights of the financial world, BlackRock and Fidelity, is particularly remarkable. These funds have managed to attract impressive amounts of money within a very short period of time, which very few analysts would have expected before they were launched. BlackRock’s iShares Bitcoin Trust ETF alone saw inflows of $2.7 billion, while Fidelity’s FBTC also shone with $2.3 billion in the first few weeks. These numbers place both funds in the top 10 ETFs with the most capital inflows in the US in January, even though the funds have only been tradable since January 11th, while the others had significantly more trading days.
Also interesting is the contrast with the Grayscale Bitcoin Trust (GBTC), which holds more Bitcoin due to its longer market presence, but experiences capital outflows during ETF conversion. Of the more than 600,000 Bitcoin that Grayscale held at the beginning of January, fewer than 500,000 are now left. Although the asset manager sold BTC worth billions, this did not have a significant impact on the price, as the other issuers actually bought more coins than Grayscale sold for its customers.
The dynamic development of these new ETFs also sheds light on the future possibilities in the crypto market. Despite a muted start in terms of direct influence on the Bitcoin price, which did not immediately reach the desired highs, there is reasonable hope that the influence of ETFs will lead to a bull market bias in the long term. Given further positive signals, such as the upcoming Bitcoin halving and the first interest rate cuts, the price of Bitcoin could experience a significant increase that goes far beyond the current market valuation.
The ETF launch in January not only marked a significant moment for institutional and retail investors, who now have easier access to Bitcoin investments, but also a turning point that should further drive the acceptance and integration of cryptocurrencies into the traditional financial system. While the exact impact of this development on the crypto market remains to be seen, it is broadly believed that there are more bullish years ahead. Altcoins could also benefit greatly from this again. Especially those that are directly related to Bitcoin, such as Bitcoin Minetrix ($BTCMTX).
Find out more about Bitcoin Minetrix now.
Benefit indirectly from rising Bitcoin prices with Bitcoin Minetrix
With Bitcoin Minetrix ($BTCMTX), a new coin is coming onto the market that allows investors to indirectly benefit from rising Bitcoin prices. This is made possible by the Stake to Mine approach, which rewards investors for staking the $BTCMTX tokens with credit that can be used for Bitcoin cloud mining. This allows $BTCMTX holders to mine the digital gold themselves without having to purchase the hardware required to do so. Bitcoin Minetrix is making the mining market accessible to everyone again and thus convincing investors.
(BTCMTX Token Presale – Source: Bitcoin Minetrix)
Staking rewards are nothing new in the crypto market. During the presales, these are paid out at Bitcoin Minetrix in the form of additional tokens. After the presale of the $BTCMTX tokens, the stake to mine phase begins, in which stakers receive a return in the form of credits for Bitcoin cloud mining. Since the funds are distributed directly on the platform via smart contracts, the risks previously associated with cloud mining are eliminated.
Visit Bitcoin Minetrix website now.
Transferring money to a cloud provider becomes unnecessary, so you don’t have to hope that they will pay out the Bitcoin you’ve mined in the end. The more $BTCMTX tokens you hold in the staking pool, the more cloud mining credits you receive, which can be managed directly from the Stake to Mine dashboard, eliminating the need for a third party.
(Stake to Mine Dashboard – Source: Bitcoin Minetrix)
The idea of being able to mine Bitcoin yourself excites investors, especially in view of the bull run that is expected in the next few years. The $BTCMTX tokens are currently still available in presale, with more than $10 million already sold. Since most of the buyers are long-term oriented, a large portion of the tokens sold so far have already been added to the staking pool, making a price explosion after the start of trading on the crypto exchanges increasingly likely. Experts suspect that $BTCMTX is still heavily undervalued due to the current presale price and could quickly rise by 500-800% upon launch.
Get in now and buy $BTCMTX in the presale.
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