There has obviously been a lot of buildup to the launch of multiple US based spot bitcoin ETFs. Are there really a lot of investors that want to own bitcoin but haven’t been able to previously? I understand that it will appeal to retirement account holders, but they’ve had GBTC for a long time and futures based funds such as BITO for some time. Could have bought MSTR for exposure as well. It seems unlikely that there are really hundreds of billions on the sidelines just waiting for this product to launch.
Maybe once the large fund providers like Blackrock finally have a bitcoin product to market to advisors the advisors will in turn market to their clients but this process would take a long time and not be some watershed moment.
I’m a huge bitcoin bull and though I think self custody is a key feature of bitcoin, I do support adoption of any kind, but just wonder if this event is mostly hype. Would love learn what I’m missing.
