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Groundbreaking Claim From Bloomberg ETF Analyst: "$30 Trillion Flows Into Cryptos If Spot ETF Is Approved"

Bloomberg ETF analyst Eric Balchunas made some interesting statements about the Bitcoin Spot ETF in his statement.

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According to a Bloomberg ETF analyst, a spot Bitcoin exchange-traded fund (ETF) could open the door to $30 trillion worth of capital flows into the cryptocurrency market.

Eric Balchunas, who follows the ETF industry at Bloomberg Intelligence, told Cointelegraph that a Bitcoin spot ETF would be a game changer for the crypto space as it would appeal to the preferences of traditional investors and financial advisors.

“The ETF is the format that boomers and financial advisors prefer their investments to be delivered in,” Balchunas said.

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He added that the recent filing of the world's largest asset manager BlackRock for a Bitcoin spot ETF significantly increases the likelihood that such a product will be approved by the U.S. Securities and Exchange Commission (SEC).

According to Balchunas, the probability of acceptance of a spot BTC ETF before BlackRock's application was 1%, now this rate has increased to 50%.

“These are very smart people and they don't just apply on their own,” said Balchunas. “They're clearly seeing something they think they can get through the regulators,” he added.

*Not investment advice.

Buradaki Yorumlardan Bildirim Al

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