Bitcoin overtakes gold in investor portfolio allocation — JPMorgan

Prashant Jha10 hours agoBitcoin overtakes gold in investor portfolio allocation — JPMorganBitcoin’s allocation in investor portfolios has reached 3.7 times that of gold when adjusted for volatility, according to a JPMorgan analyst.4595 Total views9 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksBitcoin has now overtaken gold in investor portfolio allocation when adjusted for volatility, according to a JP Morgan analyst 

JPMorgan managing director Nikolaos Panigirtzoglou reportedly said that, when adjusting for volatility, Bitcoin (BTC) allocation in investor portfolios is 3.7 times greater than gold.

The analyst highlighted the significant inflows of over $10 billion into spot Bitcoin exchange-traded funds (ETFs) since their approval in January and claimed the potential Bitcoin ETF market size could reach $62 billion, using gold as a benchmark. 

Another report from JPM Securities predicts that the spot Bitcoin ETFs market could grow as large as $220 billion in the next two to three years:“We estimate $220B of incremental flows will come into the ETFs over the next three years, which could also be quite impactful to Bitcoin’s price given the multiplier on capital.”

Bitcoin ETFs have proven to be a net positive for the crypto market, with the world’s largest cryptocurrency gaining over 45% in market cap in February. Net sales for spot Bitcoin ETFs climbed to $6.1 billion in February, compared to $1.5 billion in January.

The largest daily inflows to the spot Bitcoin ETFs peaked at over $1 billion on March 12, and analysts believe this number could rise further once outflows from the Grayscale Bitcoin Trust ETF stop.

With the Bitcoin halving just over a month away, the supply of daily BTC would be cut down in half, which could fuel the demand further and lead to a supply crisis within the next six months, predicts Ki Young Ju, the CEO of crypto analytic firm CryptoQuant.Bitcoin supply shock. Source: Ki Young Ju on X

After a prolonged crypto winter lasting nearly three years, spot Bitcoin ETF approvals became a catalyst for BTC’s mammoth price action that has pushed it past the last bull cycle’s all-time high of above $69,000, as well as opening the doors to institutional adoption led by the world’s largest asset manager, BlackRock.# Bitcoin# Bitcoin Price# Bitcoin Regulation# Adoption# Cryptocurrency ExchangeAdd reactionAdd reactionRead morePrice analysis 3/15: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, DOTUK FCA approves crypto investment products, but there’s a catchSpot Bitcoin ETF net inflows drop by 80% as BTC price dips below $69K