According to Coinbase, institutional investment in Bitcoin is expected to increase in the next six months, with the digital currency currently trading just below $52,000 and having surpassed a market capitalization of $1 trillion.
The report highlights the expected rise of institutional investment in the spot ETF market over the coming months, with investors beginning to develop strategies for ETFs in light of increasing institutional interest in Bitcoin.
This support from institutional players has contributed to Bitcoin’s status as the best-performing asset in the global market, according to the cryptocurrency data platform Santiment.
Santiment has also noted a steady increase in average daily ETF trading volume since mid-February, with last week’s volume reaching a high of $1.8 billion – the highest since January 22. Coinbase’s report points out that the total capital inflow into Bitcoin ETFs since the beginning of 2021 has reached $4.2 billion.
The study speculates that digital currency ETFs could potentially become the primary competitor for funds investing in gold.
