The Rise of Quantum Trading on the Blockchain
The financial giant Goldman Sachs predicts a significant increase in quantum trading on the blockchain within the next two years. According to Mathew McDermott, the global head of digital assets at Goldman Sachs, there is a growing demand for digital assets, and the trend has been steadily increasing since the beginning of 2023.
A Long Way to Go for Blockchain Market
While acknowledging the rising interest in crypto and the potential of a Bitcoin ETF, McDermott notes that the blockchain market is still relatively small compared to other assets like bonds or gold. He does not expect an immediate surge in liquidity and price with a Bitcoin ETF approval but believes it could attract new wealthy investors to the market.
SEC’s Decision on Bitcoin ETF Applications
The U.S. Securities and Exchange Commission (SEC) has until Jan. 15, 2024, to decide on various financial firms’ Bitcoin ETF applications, including BlackRock, Grayscale, Bitwise, VanEck, WisdomTree, Invesco Galaxy, Fidelity, and Hashdex. SEC chair Gary Gensler remains cautious due to concerns about fraud and manipulation in the crypto market.
Hot Take: The Future of Quantum Trading and Bitcoin ETFs
The rise of quantum trading on the blockchain is expected within the next few years, according to Goldman Sachs. While there is still progress to be made in the blockchain market, the demand for digital assets continues to grow. The decision on Bitcoin ETF applications by the SEC will have a significant impact on attracting new investors. However, concerns about fraud and manipulation remain a key consideration. As we await these developments, it is clear that the future of quantum trading and Bitcoin ETFs holds both promise and challenges for the crypto market.
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