Buy $GGsBitcoin Halving Hype Spurs Investors’ 2X BTC Leveraged ETF Bet
Highlights
- The hope of a possible bull run post-halving has resulted in investors hoarding Bitcoin-related assets like BTC leveraged ETF.
- As the highly anticipated Bitcoin Halving approaches, investors have been piling up BTC assets.
- A surge in inflows just before the halving implies that BTC holders are probably hoarding the cryptocurrency in anticipation of the code upgrade.
With the approaching Bitcoin Halving, investors have been bullish on Bitcoin. The hope of a possible bull run post-halving has resulted in investors hoarding Bitcoin-related assets. One such asset is BTC leveraged ETF.
Bitcoin Leveraged ETFs Gain Traction
According to Forbes, with its focus on leveraged and inverse ETFs, Volatility Shares, an exchange-traded fund (ETF) issuer based in Palm Beach Gardens, Florida, launched the 2X Bitcoin Strategy ETF (BITX) in 2019. In recent weeks, it has risen to become the largest holder of bitcoin futures contracts at the Chicago Mercantile Exchange (CME).
Currently the largest of its kind, this bitcoin futures ETF saw a 135% return in Q1, double that of spot Bitcoin ETFs.
Read Also: Federal Reserve Yielding To Political Ploy To Stiffen Innovation, Caitlin Long
Investors Hoard Assets Ahead of Bitcoin Halving
As the highly anticipated Bitcoin Halving approaches, investors have been piling up BTC assets. A good example of this is Marathon Digital’s wallet.
Marathon Digital’s wallets, which had 23 addresses and more than $1.1 billion in Bitcoin, were recently found. By mining 12,85K Bitcoins in 2023, these on-chain wallets brought in $387.5 million in revenue. Before the halving of Bitcoin, the discovery of the Marathon Wallet coincided with a sharp increase in interest in BTC ETFs.
Bitcoin ETF Hype Rises Ahead of Halving
A surge in inflows just before the halving implies that BTC holders are probably hoarding the cryptocurrency in anticipation of the code upgrade. People who are expecting a bull run after the halving keep their BTC profiles strong.
The main reason why market players are stockpiling Bitcoin and clamoring for BTC ETFs is because of the upcoming halving. Even with the recent volatility in the market, Bitcoin whales have been actively buying up enormous amounts of the cryptocurrency. Previous Bitcoin halvings have shown that, following a code upgrade, supply and demand typically become unbalanced. Given the increase in demand and price, this causes a Bitcoin bull run.
Read Also: Uniswap Vs SEC: Adam Cochran Critiques SEC’s Case as Contradictory
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Vitalik Buterin Maps Out Quantum Risks as Ethereum Foundation Unveils ‘Strawmap’
- BlackRock Adds $289M in BTC as Bitcoin ETFs Log 2-Week High Inflows Of $500M
- Glassnode Signals Bitcoin Still Faces Downside Risk Amid Massive Sell Pressure at $70K
- U.S House Introduces Bipartisan Crypto Bill To Protect Crypto Developers Amid DeFi Push Under CLARITY Act
- XRP News: Ripple Unveils Funding Hub To Support Innovation On XRPL
- Top 2 Price Predictions Ethereum and Solana Ahead of March 1 Clarity Act Stablecoin Deadline
- Pi Network Price Prediction Ahead of Protocol Upgrades Deadline on March 1
- XRP Price Outlook As Jane Street Lawsuit Sparks Shift in Morning Sell-Off Trend
- Dogecoin, Cardano, and Chainlink Price Prediction As Crypto Market Rebounds
- Will Solana Price Rally to $100 If Bitcoin Reclaims $72K?
- XRP Price Eye $2 Rebound as On-Chain Data Signals Massive Whale Accumulation
