Retail has been driving Bitcoin price gains, not institutional investors

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The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.

They noted that adjustments were necessary to help differentiate between retail traders who invested in the ETFs as large institutional wallets would otherwise appear larger than they truly are. Block Inc., PayPal Holdings, and Robinhood Markets have all recently released reports showing net positive Bitcoin purchases by customers in the fourth quarter of 2023, JPMorgan noted, which is a marked improvement from the negative sales seen in the third quarter. Coinbase also reported the highest quarterly Bitcoin trading volume in two years in Q423.

Grant Engelbart, the firm’s vice president and investment strategist, said they selected these products because IBIT and FBTC have seen “significant asset growth” and trading volume, while BITB and EZBC offer some of the lowest fees of all the offerings. is a Crypto Market Reporter for Kitco Crypto. Coming from a background in Psychology and Human Behavior, he began to focus his attention on the cryptocurrency space in early 2017 after noticing the rapid growth of this emerging market. Since that time, Jordan has worked as a content creator for multiple projects and as a crypto news journalist reporting on the latest developments within the cryptocurrency market.

 

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