$100,000,000,000 in TradFi Money Waiting for Bitcoin ETF Approval, Says Bloomberg Intelligence Analysts - The Daily Hodl
The market for a spot Bitcoin (BTC) exchange-traded fund (ETF) could quickly turn into a "$100 billion juggernaut," according to new estimates from Bloomberg Intelligence. ...
- Bloomberg Intelligence estimates that the market for a spot Bitcoin exchange-traded fund (ETF) could reach $100 billion.
- Investment professionals are showing significant institutional interest in Bitcoin due to the expected ETF approval.
- The approval of a Bitcoin ETF is seen as a game changer and could attract high-net-worth investors.
- Several traditional finance heavyweights, including Fidelity, Ark Invest, and BlackRock, have filed applications for a spot market Bitcoin ETF.
- BitGo CEO Mike Belshe believes that another round of rejections from the SEC is likely before a positive decision on BTC ETFs due to the need to separate exchanges from custody.
The sentiment in the article is mostly positive, with investment professionals expressing optimism about the potential approval of a Bitcoin ETF. However, there is also a cautious tone regarding the possibility of further rejections from the SEC.