{"id":9812,"date":"2024-01-15T16:32:15","date_gmt":"2024-01-15T14:32:15","guid":{"rendered":"https:\/\/forklog.com\/en\/jpmorgan-predicts-shift-from-gbtc-to-other-bitcoin-etfs\/"},"modified":"2024-01-15T16:32:15","modified_gmt":"2024-01-15T14:32:15","slug":"jpmorgan-predicts-shift-from-gbtc-to-other-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/jpmorgan-predicts-shift-from-gbtc-to-other-bitcoin-etfs\/","title":{"rendered":"JPMorgan Predicts Shift from GBTC to Other Bitcoin ETFs"},"content":{"rendered":"<p>Registered spot Bitcoin ETFs could attract up to $36 billion from other crypto products like the Grayscale Bitcoin Trust (GBTC), according to a forecast by JPMorgan, reports <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/01\/15\/jpmorgan-sees-significant-capital-from-existing-crypto-products-pouring-into-new-spot-bitcoin-etfs\/\">CoinDesk<\/a>.<\/p>\n<p>Analysts did not provide an estimate for &#8220;fresh&#8221; inflows into these instruments.<\/p>\n<p>They described the market&#8217;s reaction to the decision by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> to approve the products as &#8220;muted.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We are skeptical about the current optimism regarding the inflow of new capital into spot Bitcoin ETFs following their approval,&#8221;<\/em> the note stated.<\/p>\n<\/blockquote>\n<p>Of the projected $36 billion, $3 billion could come from GBTC as a result of profit-taking from purchasing shares of the instrument at a discount, experts calculated.<\/p>\n<p>They estimated a $20 billion shift from exchange wallets holding the funds.<\/p>\n<p>High fees from Grayscale could also trigger a capital outflow, provided they are not reduced to levels comparable with BlackRock and other issuers, specialists noted. They estimated the effect of this rotation at $5-10 billion.<\/p>\n<p>Futures-based Bitcoin ETFs could serve as an additional source, experts concluded.<\/p>\n<p>Back in April, analysts from 10x Research attributed the current decline in the price of digital gold below $43,000 to GBTC sales due to rotation into other products.<\/p>\n<p>Earlier, Bloomberg <a href=\"https:\/\/u1f987.com\/en\/news\/grayscales-proposed-bitcoin-etf-management-fee-surprises-analysts\">questioned<\/a> the success of Grayscale&#8217;s strategy to maintain a high management fee for its Bitcoin trust.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Registered spot Bitcoin ETFs could attract up to $36 billion from other crypto products like the Grayscale Bitcoin Trust (GBTC), according to a forecast by JPMorgan, reports CoinDesk. Analysts did not provide an estimate for &#8220;fresh&#8221; inflows into these instruments. They described the market&#8217;s reaction to the decision by the SEC to approve the products [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,1214,943,229,1138],"class_list":["post-9812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-grayscale-bitcoin-trust","tag-grayscale-investments","tag-jpmorgan","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=9812"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/9811"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=9812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=9812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=9812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}