Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
) will rise to as high as $56,000 if a BlackRock spot bitcoin exchange-traded fund is approved, crypto services provider Matrixport said in a report Thursday.
"Assuming that 10-20% of those precious metals ETF investors seek to diversify their investments into BTC," Matrixport said in its report."We can estimate potential inflows of $12-24 billion into the Bitcoin ETF. While the market cap of GBTC is currently only $17-18 billion, it reached a peak of $44 billion. Therefore, our estimate of $12-24 billion is relatively conservative."
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