4 Reasons to Bet on Bitcoin ETFs for the Rest of 2024

Zacks05-10

The cryptocurrency market experienced a lackluster April following a strong rally in the first quarter that led Bitcoin (BTC) to a new all-time high of $73,750.Over the past month (as of May 9, 2024),...

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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Reasons to Bet on Bitcoin ETFs for the Rest of 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-10 20:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/4-reasons-bet-bitcoin-etfs-120000557.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The cryptocurrency market experienced a lackluster April following a strong rally in the first quarter that led Bitcoin (BTC) to a new all-time high of $73,750.Over the past month (as of May 9, 2024),...</p>\n\n<a href=\"https://finance.yahoo.com/news/4-reasons-bet-bitcoin-etfs-120000557.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://finance.yahoo.com/news/4-reasons-bet-bitcoin-etfs-120000557.html","article_id":"2434854181","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/JMdm4H6ZcHQAaS69Quc0tQ--~B/aD0zNDk7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/2677d4ba68204c51d83bcea4db6ae8b8"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2434854181","pubTimestamp":1715342400,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The cryptocurrency market experienced a lackluster April following a strong rally in the first quarter that led Bitcoin  to a new all-time high of $73,750.Over the past month , Bitcoin slumped about 11%. The rise in geopolitical crisis can also be held responsible for this crash. The decentralized nature of cryptocurrencies enables quick reactions to geopolitical events, even quicker than stocks.April’s slump is perhaps temporary. Investors’ interest in Bitcoin is unlikely to wane. iShares Bitcoin Trust IBIT amassed about $1.62 billion in April, despite the slump in bitcoin price. The streak of 71 consecutive days of inflows into IBIT ended in April, yet it is still poised to become the largest spot Bitcoin ETF. Currently, IBIT has an asset base of over $17 billion.Against this backdrop, below we highlight a few factors that could favor bitcoin or crypto ETF investing.But over a decade, crypto windfalls increased household consumption by $30 billion per a study, with each","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","FDN":"First Trust Dow Jones Internet I","DEFI":"Hashdex Bitcoin ETF","IBIT":"iShares Bitcoin Trust","BTC":"ClearShares Piton Intermediate Fixed Income ETF","BK4594":"比特币ETF概念","BK4588":"碎股","FBTC":"Fidelity Wise Origin Bitcoin Fund","BITO":"ProShares Bitcoin Strategy ETF","BK4550":"红杉资本持仓","BTCO":"Invesco Galaxy Bitcoin ETF","BRRR":"Valkyrie Bitcoin Fund","GBTC":"Grayscale Bitcoin Trust","ARKB":"ARK 21Shares Bitcoin ETF","EZBC":"Franklin Bitcoin ETF","BITB":"Bitwise Bitcoin ETF","BTCW":"WisdomTree Bitcoin Fund","HODL":"VanEck Bitcoin Trust ETF"},"translate_title":"2024年剩余时间押注比特币ETF的4个理由","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTCO":1,"IBIT":1,"HODL":1,"FBTC":1,"EZBC":1,"DEFI":1,"BTCW":1,"ARKB":1,"BTC":1,"BRRR":1,"BITO":1,"BITB":1,"FDN":0.9,"GBTC":0.9},"content_text":"The cryptocurrency market experienced a lackluster April following a strong rally in the first quarter that led Bitcoin (BTC) to a new all-time high of $73,750.Over the past month (as of May 9, 2024), Bitcoin slumped about 11%. The rise in geopolitical crisis can also be held responsible for this crash. The decentralized nature of cryptocurrencies enables quick reactions to geopolitical events, even quicker than stocks.\nApril’s slump is perhaps temporary. Investors’ interest in Bitcoin is unlikely to wane. iShares Bitcoin Trust IBIT amassed about $1.62 billion in April, despite the slump in bitcoin price. The streak of 71 consecutive days of inflows into IBIT ended in April, yet it is still poised to become the largest spot Bitcoin ETF. Currently, IBIT has an asset base of over $17 billion.\nAgainst this backdrop, below we highlight a few factors that could favor bitcoin or crypto ETF investing.\nBitcoin Having to Boost Prices\nOne of the major reasons behind the volatility and decline in Bitcoin price was the recent halving event, which took place last month. The Bitcoin halving event happens once in four years. Following the recent completion of Bitcoin's April halving, there is widespread speculation that the decreased supply of Bitcoins could result in a price increase for the cryptocurrency in the coming months due to increased scarcity.\nBitcoin has a fixed supply (21 million). Consequently, demand for new Bitcoins increases, driving up prices. However, analysts argue that because the timing of the halving event is anticipated, its effects are already priced in and not disruptive.\nArrival of Bitcoin ETFs Add to Cryptocurrencies’ Stability\nSince the launch of the first Bitcoin ETFs on Jan 11, the asset has surged more than 50%, even hitting a record high of just under $74,000. The ETFs represent a landmark in Bitcoin’s journey, offering both retail and institutional investors a regulated and accessible means to invest in the cryptocurrency. This development not only enhances liquidity but also contributes to price stability.\nDoes Bitcoin Perform Well Amid Inflation?\nBitcoin is often touted as a hedge against inflation. Bitcoin has a fixed supply. This move contrasts with traditional fiat currencies, which central banks can issue in unlimited quantities. Thus, in times of inflation, the value of fiat currencies tends to fall. Meanwhile, some market watchers view Bitcoin as a store of value due to its limited supply which can preserve wealth amid high inflation. Having said this, we would like to note that the crypto space is extremely volatile.\nCrypto Creating Wealth Effect?\nCryptocurrencies have hit headlines lately as early investors bask in newfound wealth. Investors should note that early crypto investors have seen life-changing wealth, but its impact on spending—known as the wealth effect—hasn't been as overgenerous as lottery winnings.\nBut over a decade, crypto windfalls increased household consumption by $30 billion per a study, with each unrealized dollar leading to nine cents of spending. The figure is almost double the marginal propensity to consume when it comes to stock-market returns. It has also been noticed that some of the sudden wealth generation from crypto goes into real estate, boosting markets in crypto-friendly areas, per Bloomberg, as quoted on Economic Times.\nETFs in Focus\nAgainst this backdrop, investors can keep track of ETFs like Grayscale Bitcoin Trust GBTC, IBIT, Fidelity Wise Origin Bitcoin Fund FBTC, ARK 21Shares Bitcoin ETF ARKB and Bitwise Bitcoin ETF Trust BITB.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nGrayscale Bitcoin Trust ETF (GBTC): ETF Research Reports\niShares Bitcoin Trust (IBIT): ETF Research Reports\nFidelity Wise Origin Bitcoin Fund (FBTC): ETF Research Reports\nARK 21Shares Bitcoin ETF (ARKB): ETF Research Reports\nBitwise Bitcoin ETF (BITB): ETF Research Reports\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434854181"}