The original post: /r/bitcoin by /u/True-Whereas6812 on 2024-12-23 01:59:59.

We are told that the Bitcoin ETFs have experienced the most successful launch in the history of ETFs. Blackrock’s IBIT has2x the AUM as the leading gold ETF, GLD. Blah blah blah, great for Wall St and ETF maxis.

But how has any of this really impacted Bitcoin adoption? Sure, bitcoin price has doubled from $45k to nearly $95k since the ETFs launched. But that is not unusual for this part of the cycle post-halving. Something tells me BTC would have doubled in 2024 with or without the ETFs.

So, is this all just smoke and mirrors?