The article discusses how the introduction of United States spot Bitcoin exchange-traded funds (ETFs) could potentially hinder on-chain adoption and liquidity of Bitcoin. Despite promises of attracting more baby boomers to Bitcoin, the ETFs seem to be pulling on-chain liquidity into traditional finance. This shift is evident in the financial results of Coinbase and retail trading behavior. The article also highlights the concerns raised by macro researcher Jim Bianco regarding the ETFs' impact on the development of a new decentralized financial system.
Keyword: Bitcoin, ETFs, on-chain adoption, liquidity, Coinbase, traditional finance, retail investors, institutional investors, baby boomers, financial system
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Last edited on: May 20, 2024 at 08:34 pm