Bitcoin Spot ETF: Wall Street Eyes $100 Billion Potential


20 Nov 2023 2:19 PM

Market for potential spot Bitcoin ETF could reach $100 billion, per estimates...

  • The impending debut of Bitcoin exchange-traded funds (ETF) is seen as a breakthrough for crypto on Wall Street.
  • Bloomberg Intelligence forecasts that the spot-Bitcoin ETF market could grow into a $100 billion industry with the participation of BlackRock, Fidelity, and Invesco.
  • The U.S. Securities and Exchange Commission is expected to approve Bitcoin ETFs by mid-January.
  • The anticipation of ETF approval has driven a recent hype cycle for Bitcoin, leading to a 30% price increase in the last month.
  • Digital asset investment products have seen consecutive weekly inflows, with $176 million in inflows last week and $1.32 billion year-to-date.
  • On-chain analytics firm IntoTheBlock reports evidence of new money flowing into Bitcoin and increased demand from institutions, particularly in the United States.

The overall sentiment of the article is positive, highlighting the potential breakthrough of Bitcoin ETFs on Wall Street and the increased demand from institutions.

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You May Ask

What is the potential impact of Bitcoin ETFs on the cryptocurrency market?Which financial heavyweights are expected to participate in the spot-Bitcoin ETF market?When is the anticipated approval date for Bitcoin ETFs by the U.S. Securities and Exchange Commission?What factors have contributed to the recent price increase of Bitcoin?How much inflow has been seen in digital asset investment products and Bitcoin specifically?

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