According to BitMEX Research, the approval of the US Spot Bitcoin ETFs could cause a real revolution in the financial world. The company has compiled a list of all crypto-related investment products currently on the market. In total, they represent assets of approximately $50 billion.
Most successful ETF launch of all time
Analysts at Bitwise are confident that the launch of the US spot Bitcoin ETF will be a great success.
According to Bitwise, the price of Bitcoin will reach $80,000 by 2024 and ETFs will attract a total of $72 billion in capital. This would immediately surpass the current $50 billion.
Ultimately, the question remains how realistic this is, but the signs are currently good and expectations are high.
Fund manager VanEck takes a more sober look at the introduction of spot ETFs and predicts a capital inflow of $2.4 billion for the first quarter of 2024. That would be good, but probably not enough for new record highs in the Bitcoin market.
Large influx in 2023
In 2023, the Bitcoin and crypto investment products market witnessed massive inflows. The end result is that assets worth $1.6 billion flowed into the market, of which $1.3 billion was realized in November alone.
This increase represents almost double the $750 million that came to market in 2022. The ProShares Bitcoin Strategy ETF (BITO), launched during the 2021 bull market, saw the biggest increase in its assets, with total inflows of $278.7 million.
Now all eyes are on January, the month in which we could see the launch of spot ETFs in the United States; This promises to be a historic moment for Bitcoin.
Source: BTC Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
