{"id":562405,"date":"2023-11-25T17:40:38","date_gmt":"2023-11-25T17:40:38","guid":{"rendered":"https:\/\/wncen.com\/?p=562405"},"modified":"2024-06-11T08:02:15","modified_gmt":"2024-06-11T08:02:15","slug":"bitcoin-spot-etf-70-billion","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-spot-etf-70-billion\/","title":{"rendered":"Bitcoin Spot ETF Will Bring $70 Billion In New Money To Trigger Price Rally – Glassnode"},"content":{"rendered":"

Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around $70 billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally.\u00a0<\/span><\/p>\n

Bitcoin Spot ETF Set To Ignite New Inflows<\/b><\/h2>\n

Blockchain data and intelligence provider, Glassnode has recently <\/span>published research insights<\/span><\/a> on the potential impacts of Bitcoin Spot ETF approvals on the <\/span>price of Bitcoin<\/span><\/a> and the broader crypto market. The on-chain analytics company has predicted about $70.5 billion flowing into Bitcoin from increased demand from institutional investors.\u00a0<\/span><\/p>\n

Related Reading: Crypto Fund Exits BLUR For Lido And IMX\u2014Endorsing DeFi?<\/a><\/div>\n

Glassnode bases its analysis on the assumption that substantial portions of capital invested in the <\/span>stocks<\/span><\/a>, bonds, and <\/span>gold market<\/span><\/a> might shift toward Bitcoin investments. The blockchain analytics firm has stated that this influx of new capital could have a huge effect on the <\/span>Bitcoin market<\/span><\/a>, potentially driving its price to greater levels.\u00a0<\/span><\/p>\n

\u201cBased on these assumptions, we estimate approximately $60.6 billion could flow into Bitcoin from the combined stock and bond ETFs, and about $9.9 billion from the gold market, totaling around $70.5 billion in potential new capital influx,\u201d Glassnode stated.\u00a0<\/span><\/p>\n

It added:<\/span><\/p>\n

\u201cThis significant infusion of new capital could have a considerable impact on Bitcoin’s market, potentially driving up its price as it gains broader acceptance and becomes integrated into more traditional investment portfolios.\u201d<\/span><\/p>\n

Bitcoin Futures And Altcoins Soar On BTC ETF Hype\u00a0<\/b><\/h2>\n

Glassnode has extended its analysis to examine how <\/span>Spot Bitcoin ETF applications<\/span><\/a> are influencing Chicago Mercantile Exchange (CME) <\/span>Bitcoin futures<\/span><\/a> and various altcoins.\u00a0<\/span><\/p>\n

The blockchain analytics firm has stated that the recent crypto market recovery has been driven by the surrounding anticipation of Spot Bitcoin ETF potential <\/span>approval by the United States Securities and Exchange Commission (SEC).\u00a0<\/span><\/a><\/p>\n

<\/p>\n

Bitcoin (BTC) is currently trading at $37.696. Chart: TradingView.com<\/a><\/pre>\n
\u201cThe market’s upward trajectory was largely driven by the anticipation of Spot BTC ETF approvals, with market movements significantly influenced by updates on filings from major financial entities like Invesco and BlackRock,\u201d Glassnode stated.\u00a0<\/span><\/p>\n
The on-chain analysis firm revealed that the growing optimism in Spot Bitcoin ETFs has caused a notable increase in Bitcoin futures on CME. According to the blockchain intelligence provider, <\/span>CME Bitcoin futures rose to an all-time high<\/span><\/a> of 27.8%, exceeding Binance for the first time since the start of the crypto bear market.\u00a0<\/span><\/p>\n
Various other altcoins like Ethereum and Solana also experienced staggering price increases. <\/span>Solana<\/span><\/a> surged by 79.05%, and <\/span>Ethereum\u2019s price <\/span><\/a>is presently above the $2000 mark.\u00a0<\/span><\/p>\n
Related Reading: Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 \u2013 Details<\/a><\/div>\n
The most notable increase caused by the ongoing hype on Spot Bitcoin ETFs was seen in Bitcoin. <\/span>BTC surged above $37,000<\/span><\/a> as the optimism of regulator approvals for the first Spot Bitcoin ETF spread.\u00a0<\/span><\/p>\n
Additionally, institutional engagement in open interest in Bitcoin call options also rose by $4.3 billion, marking an 80% increase to surpass $9.7 billion. These recent spikes in investor demand and crypto prices have signaled a potential bullish trajectory for the maturing crypto market.\u00a0<\/span><\/p>\n
Featured image from Pexels<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around $70 billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally.\u00a0 Bitcoin Spot ETF Set To Ignite New Inflows Blockchain data and intelligence provider, Glassnode has recently published research insights on the potential impacts of Bitcoin Spot ETF approvals on the price of Bitcoin and the broader crypto market. The on-chain analytics company has predicted about $70.5 billion flowing into Bitcoin from increased demand from institutional investors.\u00a0 Related Reading: Crypto Fund Exits BLUR For Lido And IMX\u2014Endorsing DeFi? Glassnode bases its analysis on the assumption that substantial portions of capital invested in the stocks, bonds, and gold market might shift toward Bitcoin investments. The blockchain analytics firm has stated that this influx of new capital could have a huge effect on the Bitcoin market, potentially driving its price to greater levels.\u00a0 \u201cBased on these assumptions, we estimate approximately $60.6 billion could flow into Bitcoin from the combined stock and bond ETFs, and about $9.9 billion from the gold market, totaling around $70.5 billion in potential new capital influx,\u201d Glassnode stated.\u00a0 It added: \u201cThis significant infusion of new capital could have a considerable impact on Bitcoin’s market, potentially driving up its price as it gains broader acceptance and becomes integrated into more traditional investment portfolios.\u201d Bitcoin Futures And Altcoins Soar On BTC ETF Hype\u00a0 Glassnode has extended its analysis to examine how Spot Bitcoin ETF applications are influencing Chicago Mercantile Exchange (CME) Bitcoin futures and various altcoins.\u00a0 The blockchain analytics firm has stated that the recent crypto market recovery has been driven by the surrounding anticipation of Spot Bitcoin ETF potential approval by the United States Securities and Exchange Commission (SEC).\u00a0 Bitcoin (BTC) is currently trading at $37.696. Chart: TradingView.com \u201cThe market’s upward trajectory was largely driven by the anticipation of Spot BTC ETF approvals, with market movements significantly influenced by updates on filings from major financial entities like Invesco and BlackRock,\u201d Glassnode stated.\u00a0 The on-chain analysis firm revealed that the growing optimism in Spot Bitcoin ETFs has caused a notable increase in Bitcoin futures on CME. According to the blockchain intelligence provider, CME Bitcoin futures rose to an all-time high of 27.8%, exceeding Binance for the first time since the start of the crypto bear market.\u00a0 Various other altcoins like Ethereum and Solana also experienced staggering price increases. Solana surged by 79.05%, and Ethereum\u2019s price is presently above the $2000 mark.\u00a0 Related Reading: Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 \u2013 Details The most notable increase caused by the ongoing hype on Spot Bitcoin ETFs was seen in Bitcoin. BTC surged above $37,000 as the optimism of regulator approvals for the first Spot Bitcoin ETF spread.\u00a0 Additionally, institutional engagement in open interest in Bitcoin call options also rose by $4.3 billion, marking an 80% increase to surpass $9.7 billion. These recent spikes in investor demand and crypto prices have signaled a potential bullish trajectory for the maturing crypto market.\u00a0 Featured image from Pexels<\/p>\n","protected":false},"author":594,"featured_media":562423,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,86326,1144,61309],"class_list":["post-562405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-spot-etf","tag-btcusd","tag-glassnode"],"acf":[],"yoast_head":"\nBitcoin Spot ETF Will Bring $70 Billion In New Money - Glassnode<\/title>\n<meta name=\"description\" content=\"Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-spot-etf-70-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Spot ETF Will Bring $70 Billion In New Money - 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Spot ETF Will Bring $70 Billion In New Money To Trigger Price Rally – Glassnode","url":"http:\/\/wncen.com\/news\/bitcoin-spot-etf-70-billion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-spot-etf-70-billion\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-9.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-9.jpg?fit=8192%2C4804"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin spot etf","btcusd","glassnode"],"dateCreated":"2023-11-25T17:40:38Z","datePublished":"2023-11-25T17:40:38Z","dateModified":"2024-06-11T08:02:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Spot ETF Will Bring $70 Billion In New Money To Trigger Price Rally – Glassnode\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-spot-etf-70-billion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-spot-etf-70-billion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-9.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/a-9.jpg?fit=8192%2C4804\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin spot etf\",\"btcusd\",\"glassnode\"],\"dateCreated\":\"2023-11-25T17:40:38Z\",\"datePublished\":\"2023-11-25T17:40:38Z\",\"dateModified\":\"2024-06-11T08:02:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/a-9.jpg?fit=8192%2C4804","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/562405"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=562405"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/562405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/562423"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=562405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=562405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=562405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}