TechFlow news, according to a recent research report from cryptocurrency trading firm NYDIG, spot Bitcoin ETFs could bring $30 billion in new demand to the world's largest digital asset.
"The brand recognition of BlackRock and iShares franchises, familiarity with broker-dealer purchase and sale methodologies, and simplicity in position reporting, risk measurement, and tax reporting may offer some significant advantages for spot ETFs compared to existing alternatives," NYDIG wrote in the report. "Bitcoin's volatility is approximately 3.6 times that of gold, meaning investors would need 3.6 times less Bitcoin on a dollar basis than gold to achieve equivalent risk exposure on a volatility-adjusted basis. Nonetheless, this would still result in nearly $30 billion of additional demand for Bitcoin ETFs."
NYDIG currently manages $28.8 billion in Bitcoin assets, including $27.6 billion in spot products.
