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'Paper-Handed Small-Time Traders' Hold Spot Bitcoin ETFs, Not Institutions, Analyst Says: 'Here Come The Boomers' Is A Myth

Published 29/04/2024, 17:18
© Reuters.  'Paper-Handed Small-Time Traders' Hold Spot Bitcoin ETFs, Not Institutions, Analyst Says: 'Here Come The Boomers' Is A Myth
BITO
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Benzinga - by Ivan Crnogatić, Benzinga Editor.

Jim Bianco, founder of Bianco Research, expressed his growing concerns about the risks involved with spot Bitcoin ETFs, pointing to potential significant selling pressure ahead.

What Happened: Bianco suggested on social media that these ETFs are primarily held by “paper-handed small-time traders” rather than institutional investors.

Traders may be inclined to sell if the price of Bitcoin drops below their average purchase price.

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