Lengthy-awaited launch The large enhance in Bitcoin spot ETFs within the US this yr has sparked optimism that the well-known cryptocurrency will quickly rise in worth. The logic was easy. As soon as a straightforward, low-cost means of buying Bitcoin turns into obtainable to retail buyers, the availability and demand curves will shift and the worth of every Bitcoin will rise.

Nevertheless, reactions had been considerably blended. Bitcoin's worth has practically doubled over the previous yr and is now value about $43,000, but it surely has been buying and selling roughly flat in latest weeks. Was the hype and subsequent response an instance of the previous Wall Avenue adage of “purchase the rumor, promote the information”?

To be sincere, we test inflows and outflows to the Spot Bitcoin ETF extra typically than we'd wish to admit, however we nonetheless needed to know extra. So we requested currencyjournals readers whether or not they intend to purchase Bitcoin by means of one of many new spot ETFs, whether or not they personal Bitcoin elsewhere, and the way these new funding automobiles will make Bitcoin value. and how much affect they count on it to have on cryptocurrencies.

Since then, we've acquired dozens of responses from founders and operators, and we've discovered some attention-grabbing tendencies. A few quarter of respondents to our small, non-scientific survey reported that that they had no intention of shopping for Bitcoin by means of an ETF and already owned Bitcoin elsewhere. The place do individuals preserve their cash? You see it in every single place, self-custody, Coinbase, KuCoin, all types of locations. Fairly impressively, Dara Khan, Head of Bitcoin Advertising at DecentDAO, mentioned that her pockets was “misplaced in a boating accident and fell to the underside of the ocean.” .