Minus instead of plus: initial results of trading in spot ETFs
The anticipation of the emergence of spot ETFs has been exciting the crypto industry for almost six months. On January 10, a significant event did happen. And what has changed?
Firstly, there is no talk of any Bitcoin rally. Moreover, by Sunday, January 14, BTC had already dropped below $43,000. While on January 11, at some point, it climbed above $49,000.
Secondly, the value of the shares of the ETFs themselves, like a carbon copy, first grew and then fell sharply. Undoubtedly, BlackRock, Fidelity, Valkyrie and other investment companies that stand behind the funds did not lose out. What about investors?
It is premature to say that ETFs have not lived up to, or better yet will not live up to, expectations. The fall and rise in value are natural processes with free pricing. One way or another, cryptocurrency occupies an increasingly larger place in people’s lives every year, and spot ETFs give large investors a new opportunity to invest (not directly) in digital assets.
