The Probable Impact of a United States Bitcoin (BTC) ETF on the Market
The head of research for a top digital assets manager implies that Bitcoin (BTC) could make whole lot of gains if a spot Bitcoin exchange-traded fund (ETF) gets the green light from the United States Securities and Exchange Commission (SEC). In a recent blog post, CoinShares head of research James Butterfill estimates that a United States Bitcoin (BTC) ETF could attract a substantial portion of the estimated $48.3 trillion addressable assets in the United States into the cryptocurrency market.
Butterfill’s model implies that if 10% of these assets invest in a spot Bitcoin (BTC) ETF with an average allocation of 1%, it might 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 positive trend 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.
Hot Take: United States Bitcoin (BTC) ETF Could Unlock Explosive Growth for Bitcoin
The capacity approval of a United States Bitcoin (BTC) ETF could unlock a substantial influx of institutional money into the cryptocurrency market, driving prices to new heights. The estimated inflows from such a financial product could lead to whole lot of gains for Bitcoin, with the capacity for the digital currency to rally by over 600%. As the market awaits the SEC’s decision on a Bitcoin (BTC) ETF, the likelihood of this catalyst presents an exciting prospect for future of the the leading cryptocurrency.
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