In a recent episode of 'Closing Bell Overtime', Dana D'Aurio, Co-CIO of Envestnet, and Tracie McMillion, Head of Global Asset Allocation Strategy at Wells Fargo, examined the current market dynamics by spotlighting the impact of Bitcoin ETFs on BTC.
The discussion turned to the extraordinary performance of various asset classes, especially gold and Bitcoin, reaching record highs.
D'Aurio specifically attributed this rise in Bitcoin to the approval of spot BTC ETFs by the SEC. Calling this a game-changing step, D'Aurio predicts increased interest from retail investors looking to access Bitcoin through accessible ETFs backed by major asset markets:
“As someone who invests on a platform with a large number of retail investors, I have to point to the emergence of ETFs. The SEC's decision to implement spot Bitcoin ETFs will have a huge impact. And you will continue to see a tsunami of interest because there is now a liquid, easily accessible way to earn BTC returns. And it's backed by major asset markets. “I think this is a good thing.”
*This is not investment advice.