cryptd.in

另类 LinkedIn 适合加密人才

Expert Flags Dangers Of Spot Bitcoin ETFs: Labels Them ‘Orange FOMO Poker Chips’

-

由

于

Market expert and researcher Jim Bianco recently voiced cautionary remarks regarding the alleged risks of spot Bitcoin ETFs. Bianco’s insights shed light on these ETFs’ implications for the market and address specific concerns related to investor behavior.

Minimal Involvement In New Bitcoin ETFs?

In a thought-provoking social media 邮寄 on X (formerly Twitter), Bianco emphasized his increasing worries as more data becomes available. Notably, he expressed concerns about the potential risks that spot Bitcoin ETFs pose to the market. 

Bianco highlighted that investment advisors (IAs) hold a substantial portion, approximately 35%, of all ETFs. Surprisingly, their holdings account for less than 1% of spot BTC ETFs. For Bianco, this revelation challenges the popular belief that “boomers are coming” to invest in these ETFs.

Bianco proceeded to describe spot BTC ETFs as “orange FOMO poker chips” primarily enticing “paper-handed” small-time traders, commonly referred to as “degens.” 

These traders are believed to be approaching their break-even point, potentially triggering significant selling pressure for the world’s largest cryptocurrency. 

The expert cited a Citibank study indicating that investment advisors hold a mere fraction of new BTC ETFs, while their holdings in non-equity ETFs such as Gold (GLD) and Tech Leaders Income (TLT) are significantly higher, at 22% and 40%, respectively. 

Bianco’s analysis suggests that wealth managers’ holdings in Bitcoin ETFs are practically negligible, accounting for insignificant rounding errors.

Selling Pressure Looms? 

Another aspect Bianco highlighted was the average trade size of BTC ETF buyers, particularly retail investors. His observations indicate that the average trade size is significantly small, at just $14k, less than half the size of the next smallest trade. 

This pattern suggests that a significant portion of BTC ETF holders are retail investors who may have a higher propensity to chase momentum. 

Ultimately, the fear lies in that these retail investors, commonly known as “degen retail,” are more likely to sell at the first signs of trouble, especially when the BTC price falls below their average purchase price of $58,000.

Bianco drew attention to the potential consequences if BTC traded below $58k, indicating that historical data shows traditional finance “degens” tend to sell. 

Notably, as the BTC price approaches the average purchase price of these retail investors, net inflows into BTC ETFs, excluding Grayscale’s Bitcoin ETF GBTC, start to turn into outflows. 

Bianco likened this scenario to a forest fire, where the selling of BTC is unleashed when the price falls below the average purchase price, potentially disrupting the market.

Bianco emphasized the need for an alternative to the traditional finance system by expressing support for the idea of Ethereum and Bitcoin ETFs as part of the digital age toolbox. 

However, the researcher cautioned against relying solely on Bitcoin ETFs as the “orange FOMO poker chip” that would attract “boomers” and cause a price surge, as was the narrative during the BTC peak in March, as the inflows were also increasing in the ETF market. Bianco argued that this approach would hinder the primary goal of establishing a robust digital finance system.

While Bianco acknowledges the merits of Bitcoin ETFs as part of a broader digital finance landscape, he urges caution to ensure they do not become a speculative tool that detracts from the overarching goal of building a resilient financial ecosystem.

At the time of writing, BTC is trading at $62,500, down 2% in the past 24 hours and over 5% in the past seven days. 

图片来自 Shutterstock，图表来自 TradingView.com 

评论

發佈留言

發佈留言必須填寫的電子郵件地址不會公開。 必填欄位標示為 *

最新信息

热门类别

zh_TW 繁體中文
zh_TW 繁體中文 en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

搜索网站

热门故事

标签

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (451) #BitcoinETF (3) #itcoinFundamentals (1) # 比特币处理 (1) # 比特币价格 (5) # 比特币价格水平 (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #itcoinTop (1) #Bitfinex (1) #Bitwise (1) #BracebridgeCapital (1) #BRC20Tokens (1) #BTC 收购 (1) 1TP5 看涨预测 (1) #BullishSentiment (1) #C 中国矿业 (1) #CPIPreview (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (74) #ogecoinGains (1) #ogecoinVolume (1) #DutchCourt (2) #ECommerce (1) #El萨尔瓦多比特币 (1) #E以太坊 (74) #EthereumPain (1) #E以太坊价格 (1) #ExpertOpinion (1) #FedRateCut (1) #FiatCurrency (1) #F 财务影响 (1) #F 财务隐私 (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #InflationData (1) #Investment (1) #InvestmentLoss (1) #JapaneseFirm (1) #L LegalAction (1) #L 法律影响 (1) #Legislation (1) #LightningNetwork (1) #M 市场分析 (3) #M 市场监测 (1) #M 市场预测 (1) #M 市场预测 (1) #M 市场投影 (1) #M 市场支持 (1) #M 市场波动性 (1) #M 婚姻 (1) #MemeCoin (5) #MemeCoins (2) #Miner 盈利能力 (1) #M 洗钱 (2) #MtGox (4) #朝鲜加密货币 (1) #诺沃格拉茨预测 (1) 1TP5价格里程碑 (1) #P 价格预测 (2) 1TP5价格问题 (1) #PriceSurge (1) #PrisonSentence (1) # 量化分析 (1) #R 监管压力 (1) #SECA Anti-Crypto (1) #ShibaInu (6) #SocialBuzz (1) #T 技术分析 (1) #Toncoin (3) #T 龙卷风现金 (3) #T 龙卷风现金发展项目 (1) #T 龙卷风现金开发者 (1) #UKCrypto (1) #UpsidePotential (1) #USCongress (1) #WyomingLand (1) #XRPPrice (1) #XRPupswing (1)

实用链接

我发现了一些有用的链接，希望与大家分享。