United

Bitcoin

Spot

<div class="coinjournal">
 <ul>
 <li>CryptoQuant forecasts Bitcoin’s market cap could hit $900 billion if Bitcoin spot ETFs are approved.</li>
 <li>The report also forecasts that $1 trillion could be added to the entire crypto market.</li>
 <li>The various spot Bitcoin ETFs may be approved by March 2024, signalling a new era of crypto adoption.</li>
 </ul>
 In a recent report, data analytics firm CryptoQuant revealed compelling insights into the potential impact of Bitcoin spot exchange-traded funds (ETFs) on the cryptocurrency market.
 The report suggests that, if approved, these ETFs could trigger substantial growth in the crypto space, raising Bitcoin’s market capitalization to a staggering $900 billion and boosting the overall crypto market by a monumental $1 trillion.
 <h2 id="spot-bitcoin-etfs-approval-could-be-a-game-changer">Spot Bitcoin ETFs approval could be a game-changer</h2>
 The first wave of institutional involvement in the cryptocurrency market, which occurred during 2020-2021, was characterized by institutions adding Bitcoin to their balance sheets.
 CryptoQuant’s report highlights that the second wave of adoption may come from financial institutions enabling clients to access Bitcoin through spot ETFs. CryptoQuant believes that these ETFs present a significant opportunity for investors to gain exposure to the crypto market.
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 The Next Wave of #Bitcoin Institutional Adoption: The Launch of Spot ETFs
 – SPOT ETFS AS THE NEW WAY OF INSTITUTIONAL ADOPTION. – IMPLICATIONS OF ETF APPROVALS FOR BITCOIN MARKET CAPITALIZATION.
 Prepared by Our Head of Research, @jjcmoreno.
 Link👇https://t.co/dKyd5GJJdT pic.twitter.com/ECEWMpkf0g
 — CryptoQuant.com (@cryptoquant_com) October 16, 2023
 </blockquote>
 
 Several major financial institutions in the United States have applied for regulatory <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> to launch spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s. These <a rel="noopener noreferrer nofollow" title="approvals" href="https://thebittimes.com/tag/approvals.html">approvals</a> could potentially be granted by March 2024 at the latest with some US lawmakers requesting the SEC to approve the applications. This marks a critical milestone in the evolution of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency investment instruments.
 <h2 id="potential-inflows-and-market-impact">Potential inflows and market impact</h2>
 CryptoQuant’s <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> indicates that should the issuers of <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s allocate just 1% of their Assets Under Management (AUM) to these ETFs, it could result in a remarkable influx of approximately $155 billion into the Bitcoin <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>. This influx, equivalent to nearly one-third of Bitcoin’s existing <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> capitalization, could potentially <a rel="noopener noreferrer nofollow" title="drive" href="https://thebittimes.com/tag/drive.html">drive</a> Bitcoin’s price into a range between $50,000 and $73,000.
 The report also draws upon historical data, revealing that during previous bull markets, Bitcoin’s market capitalization typically expanded by a factor of 3 to 5 times more than its realized capitalization. This historical pattern suggests that for every $1 of new investment entering the Bitcoin market, the market’s capitalization could surge by $3 to $5, indicating substantial growth potential.
 The market got a test after some false news about BlackRock Bitcoin ETF approval pushed Bitcoin to $30,000.
 In general, the approval of Bitcoin spot ETFs holds the promise of attracting significant institutional investment and contributing to the cryptocurrency market’s expansion. Despite its volatile nature, this development could become a catalyst for further institutional involvement, bringing the crypto space closer to the $1 trillion milestone.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-etf-approvals-to-drive-1t-crypto-market-surge-cryptoquant-tbt66798.html">https://thebittimes.com/bitcoin-etf-approvals-to-drive-1t-crypto-market-surge-cryptoquant-tbt66798.html</a>

Bitcoin ETF approvals to drive $1T crypto market surge: CryptoQuant

Table of Contents

TheBitTimes

Other articles published on Oct 18, 2023

Dogecoin: 59% of DOGE Holders Are in Loss

ChatGPT's Hottest Tokens for New Buyers in Q4 2023 – Litecoin (LTC), Tradecurve Markets (TCRV), R...

Top 5 UK Media Stocks That Are Highly Likely To Eke Out Profits

Hippocrat (HPO) Price Prediction 2024, 2025, 2030, 2040, and 2050

Analysts Eye Further Upside for Solana After Falling Wedge Breakout

SHIB Price Analysis: Can a 50% Supply Reduction Propel it to $0.01?

Join our free newsletter for daily crypto updates!