The founder of the financial technology startup ‘Fintelum’, Liza Aizupiete comments on the Bitcoin price developments

“The upward movement in prices occurred at a time when rumours about the approval of ETFs dominated the minds of crypto traders. The outcome was anticipated and priced in, despite the record-breaking trading volume of USD 4.6 billion on the first day, where “Grayscale” emerged as the leader.

There is nothing that regulates the prices than supply and demand. The market most likely provided the available volume at the time and will now develop demand for the asset in activities such as arbitrage, long-short (long-term and short-term) speculation, hedging, and other traditional exchange activities.

ETFs indeed provide a simpler and regulated way to invest in Bitcoin, thereby attracting more conservative clients from “BlackRock” or “Grayscale”. However, its impact on the cryptocurrency world will be felt, providing greater liquidity and promoting market development. It takes time and involvement from other industries. For example, institutions at the national level buying and holding cryptocurrency assets on their balance sheets, trading with them, using them in daily life, and for diversification, directly and with related exchange instruments.”

Original article: https://www.delfi.lv/bizness/37293360/bankas_un_finanses/56270852/neraza-kapec-ilgi-karotais-bitcoin-etf-kriptovalutu-cenu-nosita-leja