How New Bitcoin ETFs Influence Cryptocurrency Prices

IndustryTrends

 BlackRock's June 2023 announcement on a spot bitcoin ETF sparked a 96% price rally, showcasing market optimism

As the largest asset manager, BlackRock's impressive record (only one ETF rejection among 1,400 applications) heightened expectations

Bitcoin ETFs indirectly impact prices, differing from the direct influence of trades on centralized exchanges

The global bitcoin price amalgamates values from diverse exchanges, revealing potential arbitrage opportunities for traders

Unlike direct market impact, ETFs tracking bitcoin prices don't exert real-time influence, with shares converting to bitcoin on the next trading day

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