Bitcoin’s safe-haven features could provide ‘solid support’ for spot ETFs, Kaiko says
As Bitcoin keeps outperforming traditional safe-haven assets like gold or bonds, providers of spot Bitcoin exchange-traded funds (ETFs) are likely to double down on their new products. Bitcoin’s (BTC) asymmetric returns and low correlation could serve as “solid support” for the recently launched spot Bitcoin ETFs, given that institutional players are likely to continue fueling the ongoing enthusiasm for crypto ETFs. In a research report, analysts at Kaiko noted that the largest cryptocurrency by market capitalization has accumulated over $2 billion in net inflow since spot ETFs launch on Jan. 10, signaling a growing investor appetite for Bitcoin as a safe-haven asset amid broader market uncertainties. Bitcoin correlation with Nasdaq 100 | Source: Kaiko You might also like: ProShares Bitcoin ETF trading declined over 70% since spot Bitcoin ETF launch The 60-day correlation between BTC and the Nasdaq 100 index has seen a significant decline over the p...