In a landmark move, the launch of Bitcoin (CRYPTO: BTC) spot exchange-traded Funds (ETFs) in the United States has opened a new chapter in cryptocurrency investment.
This development, however, casts a shadow over crypto stocks like Coinbase Inc. (NASDAQ: COIN), Marathon Digital (NASDAQ: MARA), and MicroStrategy (NASDAQ: MSTR), which have until now served as proxy investments for Bitcoin.
Analysts from Maple Finance and North Rock Digital anticipate a significant impact on these stocks, as traditional investors now have direct access to Bitcoin exposure through these ETFs.
The introduction of Bitcoin spot ETFs is a double-edged sword.
On one hand, ...