J.P. Morgan predicts that significant funds from existing crypto products will flow into the newly approved spot bitcoin exchange-traded funds (ETFs), although it remains unclear how much fresh capital will be attracted. The bank is sceptical about the optimism surrounding the entry of new capital into the cryptocurrency market as a result of the ETF approval. However, the new ETFs could still attract inflows of up to $36bn, with up to $3bn expected to exit the Grayscale Bitcoin Trust and migrate to the new spot ETFs. The bank also predicts up to $20bn from retail investors migrating from digital wallets held at crypto exchanges to the new ETFs.
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JP Morgan Expects Significant Funds to Pour into New Bitcoin ETFs Despite Skepticism
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Musk's lawyer accused the SEC of improper investigation of Musk and his affiliated companies and demanded that the source of the instructions be made public
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