Analysts Comment on ETF: “It Will Affect Bitcoin, Ethereum and Altcoin Prices More!” Here’s Why!

A global investment bank Canaccord Genuity, published its new report on developments in the cryptocurrency market.

According to Coindesk, Canaccord analysts took a look at spot ETFs and noted that ETFs will have a greater impact on cryptocurrency prices.

Noting that institutional crypto adoption is still increasing at this point, Canaccord analysts say that more than half of the world’s largest hedge funds now spot Bitcoin ETFHe stated that he invested in the ‘s.

Spot Bitcoin ve Ethereum Analysts said the ETF approvals were encouraging for the market. BTC and said that although altcoins underperformed traditional assets in the second quarter, potential ETF inflows could reverse the downtrend.

Canaccord analysts led by Michael Graham say ETFs are attracting more investors to the market BTC, ETH ve altcoin He stated that he would be more decisive in his prices.

“Spot Bitcoin ETF inflows have slowed since their February peak, but institutional adoption and ETF investment are still increasing.

More than 50% of the world’s largest hedge funds now own spot BTC ETFs, while large institutions continue to disclose their BTC ETF investments.

Therefore, we expect BTC ETF investments to continue to increase.

Individual investors will also consider purchasing ETFs for BTC exposure through individual retirement accounts (IRAs) and other tax-advantaged accounts.

“The arrival of more investors will contribute to the increase in prices.”

One of the most important issues of July spot Ethereum ETFAnalysts also evaluated the start of trading of ETH ETFs and argued that spot ETH ETFs could have a positive impact when they start trading.

According to analysts ETH ETFs could help increase institutional appetite for other cryptocurrencies and benefit the broader crypto ecosystem.

*This is not investment advice.