The Block12 minutes ago

Published on January 18, 2024 14:54 GMT+00:00edited on January 18, 2024 15:01 GMT+00:00

More than 10 years after the first application, a spate of spot bitcoin exchange-traded funds were finally approved by the Securities and Exchange Commission to begin trading in the U.S. last week. While volume has been robust, the overall crypto market is still finding out just how dynamics could change going forward and waiting to see if the decision could open the door to further spot crypto ETFs in the country.

Nansen Principal Research Analyst Aurelie Barthere told The Block that the redistribution of bitcoin's supply from whales to new entrant buyers seems likely following the spot bitcoin ETFs launch. "This probably makes the market structure less skewed towards whales," she added.

There has also been a lot of speculation about the impact of the potential new liquidity leading to …