CoinShares Research Chief Predicts 600% Rise in Bitcoin Due to Catalyst

CoinShares Research Chief Predicts 600% Rise in Bitcoin Due to Catalyst

The Potential Impact of a US Bitcoin ETF on the Market

The head of research for a top digital assets manager suggests that Bitcoin could make significant gains if a spot BTC exchange-traded fund (ETF) gets the green light from the U.S. Securities and Exchange Commission (SEC). In a recent blog post, CoinShares head of research James Butterfill estimates that a US Bitcoin ETF could attract a substantial portion of the estimated $48.3 trillion addressable assets in the United States into the crypto market.

Butterfill’s model suggests that if 10% of these assets invest in a spot Bitcoin ETF with an average allocation of 1%, it could result in $14.4 billion of inflows in the first year. His analysis indicates that this level of investment could potentially push Bitcoin’s price up to $141,000. In a more bullish scenario, where the inflow is $31.3 billion, Bitcoin’s price could soar to $265,437, representing a more than 627% increase from its current value of $36,475.

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Hot Take: US Bitcoin ETF Could Unlock Explosive Growth for Bitcoin

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The potential approval of a US Bitcoin ETF could unlock a massive influx of institutional money into the crypto market, driving prices to new heights. The estimated inflows from such a financial product could lead to significant gains for Bitcoin, with the potential for the cryptocurrency to rally by over 600%. As the market awaits the SEC’s decision on a Bitcoin ETF, the possibility of this catalyst presents an exciting prospect for the future of the leading cryptocurrency.

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