GBTC - Bitcoin ETFs More Likely 'Off-Ramp For Whales' Than 'On-Ramp For Traditional Investors': Analyst | Benzinga
Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs) are emerging not as a gateway for mainstream investors but as an offramp for seasoned whales, according to Schwab Network's Oliver Renick.
The stock market has undergone changes — valuations, a critical factor in gains, have fallen from pandemic highs. Market concentration in giants and small-caps' unique bear performance, despite a high S&P 500, paint a diverse challenging picture.
Strong cash flow, profits and dividends now drive outperformance, excluding some assets.
Also Read: Bitcoin Pressure Eases As Profit-Taking Party Winds Down, JPMorgan Examines GBTC
Bitcoin's Unique Market Position: Bitcoin stands out, says Renick, behaving similarly ...