Arca’s Jeff Dorman: Market’s Fixation on Bitcoin ETF is Because 2023 is Boring

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There hasn't been much to sink your teeth into as a digital asset investor this year, said Arca's chief investment officer.

While bitcoin today jumped more than 7% on a positive ruling regarding Grayscale’s attempt to convert its Grayscale Bitcoin Trust into a spot bitcoin ETF, Jeff Dorman, Chief Investment Officer at Arca, says the world’s largest digital asset will need a “significant catalyst” to break out of its range-bound ways.

"If you're looking for a short-term move in bitcoin, it's probably going to be if we start to see rates start to go back down or inflation going back up, and therefore real rates going down," Dorman said.

 

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