Bitcoin ETFs More Likely ‘Off-Ramp For Whales’ Than ‘On-Ramp For Traditional Investors’: Analyst
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Benzinga
Benzinga
Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs) are emerging not as a gateway for mainstream investors but as an offramp for seasonedwhales, according to Schwab Network’s Oliver Renick. The stock market has undergone changes — valuations, a critical factor in gains, have fallen from pandemic highs. Market concentration in giants and small-caps’ unique bear performance, despite a high S&P 500, paint a diverse challenging picture. Strong cash flow, profits and dividends now drive outperformance, excluding some assets. Also Read:Bitcoin Pressure Eases As Profit-Taking Party Winds Down, JPMorga…