From Nasdaq, Inc.:

The first week of Bitcoin exchange-traded funds launched with a disappointing start, failing to bring about the anticipated surge in Bitcoin prices. Despite two funds, BlackRock Inc. and ProShares, amassing $1 billion in assets under management, the excitement over the ETF launch was short-lived, leading to a selloff and falling prices.

Investors expressed frustration as Bitcoin prices fell below the $42,000 level after the launch of the ETFs. Analysts, however, are urging patience, citing what a “healthy ETF growth” pattern looks like. The excitement over the launch hasn’t completely died down, with a surge in trading volume for newer ETFs, signaling potential sustained interest.

While initial euphoria over the ETF launch may have dissipated, investors can take away some key points: ETF adoption is real, hitting $2 billion in AUM within a week, price volatility is to be expected, and a long-term perspective on the potential impact of ETFs on the crypto market is crucial. The Bitcoin ETF story is just beginning, opening the door to a fascinating journey of market evolution and potential growth.

Amid immediate market swings, investors are urged to watch the plot unfold with a cool head and an informed perspective, rather than getting caught up in short-term fluctuations. The potential impact of ETFs on the cryptocurrency market is still unfolding, and it’s important to approach this new development with a long-term view.



Read more: Bitcoin ETFs Are A Bust One Week In: Why This Analyst Says ‘R-E-L-A-X’