NEW YORK: Inflation concerns rather than exuberance about the first US bitcoin futures exchange-traded fund (ETF) is driving the digital currency to record highs, according to JPMorgan Chase & Co strategists.
“By itself, the launch of BITO is unlikely to trigger a new phase of significantly more fresh capital entering bitcoin,” wrote strategists including Nikolaos Panigirtzoglou, referring to the ProShares Bitcoin Strategy ETF.
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