Cryptos soar, stocks slide as Bitcoin ETFs and inflation worries drive market split

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The spot BTC ETFs continue to be the primary source of momentum for the broader crypto market as they registered a record inflow of more than $1 billion for the first time on Tuesday, according to Bloomberg Intelligence Senior ETF Analyst Eric Balchunas.also over $15b and about to crack the Top 100 ETFs by size.

Balchunas also predicted the launch of additional products structured around ETFs, including 2X spot BTC ETFs, as well as covered call strategies and products like long BTC/short gold. Second, “Platforms continue to work fast to complete their due diligence on the new ETFs. Most will complete the process within the next two months, if they haven't already,” he noted.

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