From NASDAQ MarketSite: 2024-03-30 05:31:00

The launch of spot Bitcoin ETFs has attracted nearly $30 billion in investments in less than three months, with daily inflows of over $1 billion some days. These ETFs are expected to popularize cryptocurrency as an asset class and could lead to exotic ETFs like inverse and leveraged options for other cryptocurrencies like Ethereum, XRP, and Solana. BlackRock CEO Larry Fink sees ETFs as the path to asset tokenization, projecting a $4 trillion market by 2030. Tokenizing assets on the blockchain could offer advantages like increased transparency, liquidity, and reduced transaction costs. Coinbase has its own blockchain (Base) to make DeFi more accessible, including a “Magic Spend” smart contract for easy access to DeFi opportunities. The SEC’s potential involvement could impact the approval of these products, requiring careful due diligence from investors. Investors should consider potential risks and benefits of these new digital assets, keeping an eye on companies like BlackRock and Coinbase.

Read more at Nasdaq: Are Spot Bitcoin ETFs Just the Beginning for Wall Street?