Blockchain analytics firm CryptoQuant’s models predict that $155 billion will flow into the bitcoin market cap should the ETFs be approved.
Bitcoin will become a $900 billion asset, and the total crypto market will grow by $1 trillion, should the bitcoin spot exchange-traded funds be approved, data analytics firm CryptoQuant wrote in a recent report.
CryptoQuant says that if the issuers that have applied to list bitcoin ETFs put 1% of their Assets Under Management to these ETFs, approximately $155 billion could enter the bitcoin market. This represents almost a third of bitcoin's current market capitalization. Should this scenario take place, it would hypothetically push bitcoin's price to between $50,000 and $73,000.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Spikes on False BlackRock Spot Bitcoin ETF Approval RumorNoelle Acheson is the former head of research at CoinDesk and Genesis Trading. This article is excerpted from her Crypto Is Macro Now newsletter, which focuses on the overlap between the shifting crypto and macro landscapes. These opinions are hers, and nothing she writes should be taken as investment advice.
Read more »
Bitcoin Prices Soar Amid New Wave of Bullishness on Crypto ETF ApprovalsA report that the SEC won't appeal a legal ruling paving the way for a spot Bitcoin ETF sends Bitcoin higher.
Read more »
| Why a Spot Bitcoin ETF Would Help the Crypto MarketNoelle Acheson is the former head of research at CoinDesk and Genesis Trading. This article is excerpted from her Crypto Is Macro Now newsletter, which focuses on the overlap between the shifting crypto and macro landscapes. These opinions are hers, and nothing she writes should be taken as investment advice.
Read more »
Bitcoin holds onto momentum after 'dress rehearsal' for possible spot ETF approvalBitcoin is sustaining a rally first sparked by a false news report on Monday about the supposed approval of a spot ETF.
Read more »
The Ripple Effects of a Spot Market Bitcoin ETFMatan Doyich is the co-founder and CEO at Crypto Index.
Read more »
Bitcoin price spikes, BTC records 10% gains on false reports over spot ETF approvalBitcoin (BTC) price action on October 16 shows how the market stands in readiness for a positive development when it comes to Spot BTC exchange-traded
Read more »