Part 6/10:
The recent surge in spot Bitcoin ETF interest could provide a multiplier effect, where heightened awareness and involvement in ETFs prompt deeper engagement with physical Bitcoin. While currently seen as a risk-on asset correlated with equities like the NASDAQ, Clipston believes that the long-term trajectory of Bitcoin remains distinct, being driven by a fundamental shift toward a new monetary asset.
Despite concerns surrounding the increasing correlation between Bitcoin and traditional financial instruments, the transition into mainstream finance may offer Bitcoin exposure to a wider audience. But at the same time, it raises questions about potential risks, particularly from market manipulation, which is prevalent in markets with a heavy derivative presence.