US bank JPMorgan says the launch of the ProShares Bitcoin futures ETF is unlikely to trigger a rise in the prices of Bitcoin. They instead stated inflation as a key reason that may have helped propel Bitcoin prices to soar to new all-time highs.
Strategists also claim that the current price shift in Bitcoin was triggered due to investors’ sudden transition towards Bitcoin funds instead of Gold ETFs.
Bitcoin Futures ETFs allow investors to track the value of Bitcoin futures and trade on traditional markets rather than spot assets. These allow traders and investors to gain exposure to Bitcoin without having to interact with exchanges to trade crypto.
Bitcoin has seen better USD gains compared to gold
The Federal Reserve had earlier issued multiple statements that had regarded the current inflation as more of a transitory phase. The Reserve had also expected that the prices would eventually decline, but considering the current economic state that shows no signs of recovery, the investor
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