Bloomberg Analysts Predict $100 Billion Market for Bitcoin Exchange-Traded Funds

Bloomberg Analysts Predict $100 Billion Market for Bitcoin Exchange-Traded Funds

Sources next to Galaxy Digital

According to sources within Mike Novogratz’s Galaxy Digital, the firm has had discussions with hundreds of investment corporations about investing in Bitcoin. Despite the fact that the SEC has not yet approved a spot Bitcoin (BTC) exchange-traded fund (ETF), specialists predict that the market could see an influx of $100 Billion in investments from Wall Street.

Galaxy Digital’s Call with Investment Firms

Galaxy Digital reportedly held a call with around 300 investment professionals to discuss increasing their exposure to Bitcoin. Despite the fact that the outcome of these talks is uncertain, some investment corporations have already been in contact with their clients about probable Bitcoin (BTC) investments. Bloomberg reports that Summit Wealth Partners has received inquiries from both young and old investors.

Addressing Security Vulnerability in Common Smart Contracts: Thirdweb, a Web3 Company, Takes Action

Galaxy Digital’s Market Estimations

Galaxy Digital estimates that the  capacity market size for a United States Bitcoin (BTC) ETF could  accomplish $14 trillion within a year of its launch, with a projected $39 Billion by the third year. Nonetheless, the firm likewise admits that factors such as price performance could affect these estimations.

Bitcoin (BTC) Spot ETF market size | Source: Galaxy Digital

SEC’s Delayed Approvals and Challenges

The SEC has been delaying ETF app  approvals, citing uncertainty around crypto-based investment products. BitGo CEO Mike Belshe expects further hurdles due to unresolved market structure issues.

IRS Keeping an Eye on Crypto Tax Fraud Cases Amidst Market Boom

Hot Take

Although while the SEC’s delays and market uncertainties persist, the  capacity for a whole lot of influx of institutional-level interest in Bitcoin (BTC) ETFs from Wall Street investors continues  to grow. Galaxy Digital’s estimations highlight the enormous market probable that may be discovered with the approval of a United States Bitcoin (BTC) ETF. Nonetheless, unresolved issues and concerns still pose challenges that need to be addressed moving forward.

Is ETH Rally Just Beginning? Ethereum Price Forecast Following 10% Surge
Author – Contributor at | Website

Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension.

How to Dual Mine Karlsen and Rethereum AKA Hypra
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Email me the hottest Crypto news!

Latest Crypto News

Share via
Share via