JPMorgan analysts mentioned that, when adjusting for volatility, ‘s allocation in investor portfolios has already outpaced that of gold. Particularly, the flagship cryptocurrency has a 3.7 occasions larger allocation in comparison with the bullion.
They highlighted a web influx of $9 billion into Bitcoin ETFs since their inception, accounting for outflows from Grayscale, and suggests a possible Bitcoin ETF market measurement might attain $62 billion if gold is used as a benchmark.
February marked one of the crucial optimistic intervals for the cryptocurrency market, with the full market capitalization surging by almost 40% month-over-month to $2.2 trillion.
This surge was primarily led by a forty five% improve in Bitcoin and a 47% rise in . Whereas altcoins lagged behind in efficiency, they nonetheless recorded double-digit beneficial properties. Each decentralized finance (DeFi) and non-fungible token (NFT) sectors additionally noticed beneficial properties throughout this rally.
Web gross sales for Spot Bitcoin ETFs climbed to $6.1 billion in February, up from $1.5 billion in January.
BTC’s worth surged by 33% up to now two weeks, reaching a brand new all-time excessive, an increase that occurred alongside vital inflows into spot Bitcoin ETFs. Equally, crypto mining shares additionally touched new report highs in February.
