JPMorgan: The impact of MicroStrategy's leveraged ETF on the crypto market is continuously increasing

2024-12-06 07:32:52

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ChainCatcher news, JPMorgan stated in a research report that the expansion of leveraged MicroStrategy (MSTR) ETF size and the funds it attracts have a more pronounced impact on the company's stock and the crypto market than before. The bank noted that these ETFs played a significant role in the nearly 60% increase of the stock in November. The report mentioned that the total inflow of funds into U.S. spot Bitcoin (BTC), spot Ethereum (ETH), and leveraged MicroStrategy ETFs in November reached nearly $11 billion, setting a new record, with the leveraged MSTR ETF accounting for $3.4 billion, nearly one-third of the total.

Analysts led by Nikolaos Panigirtzoglou wrote, "This highlights the growing influence of MicroStrategy's leveraged ETF in the cryptocurrency market by facilitating MicroStrategy's Bitcoin purchasing program."

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