Here’s what happened in crypto today
ETH/USD
-0.11%
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BTC/USD
+0.16%
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JPM
+0.79%
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Bitcoin Ordinal trading volume increased 2834% in Q2 to $210.7 million by the end of June. Ethereum co-founder Vitalik Buterin says “builder culture” has returned to Bitcoin with the advent of Bitcoin Ordinals and BRC-20. Analysts at JPMorgan Chase (NYSE:JPM) have thrown cold water on the notion that a spot Bitcoin exchange-traded fund (ETF) in the United States will have a meaningful impact on price. Here’s what happened in crypto today.
Investors banking on a massive bull run following the approval of a U.S. spot Bitcoin ETF will be disappointed, according to analysts at JPMorgan. To understand why, we can look at spot Bitcoin ETF markets in Canada and Europe. These funds have “attracted little investor interest” over the past two years and have failed “to benefit from investor outflows from gold ETFs,” said JPMorgan managing director Nikolaos Panigirtzoglou.
