Bitcoin ETF

Galaxy

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">Sources close to Mike Novogratz’s Galaxy Digital say the firm already held a call with hundreds of investment firms about allocating to Bitcoin.</p>
 <p>Although the U.S. Securities and Exchange Commission (SEC) is yet to approve a spot Bitcoin (BTC) exchange-traded fund (ETF), experts say the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> might eventually gain $100 billion from Wall Street investors.</p>
 <p>As per Bloomberg’s sources familiar with the matter, Galaxy Digital, a crypto bank founded by Bitcoin bull Mike Novogratz, held a call earlier this month with roughly 300 investment professionals about doubling down on Bitcoin. The outcome of those talks remain unclear, but Jeff Janson, Advisor at Summit Wealth Partners, told Bloomberg his firm has already received calls from young and old investors.</p>
 <blockquote class="wp-block-quote">
  <p>“I feel like we are now staring down the gun barrel of the SEC finally delivering approval. And my belief is that once you have access to it in that type of a wrapper, I think you’re going to have a significant amount of institutional-level interest.”</p>
  <p>Jeff Janson</p>
 </blockquote>
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 <p>According to Galaxy’s estimations, the addressable <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> size of a U.S. Bitcoin ETF might be $14 trillion just one year following an ETF launch, reaching a staggering $39 billion mark by the third year post-launch.</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14217749">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/11/20/461211def5d7d7f66bcca9e5526a267e.webp.webp">
   <img decoding="async" width="1024" height="657" src="https://cdn.thebittimes.com/images/2023/11/20/461211def5d7d7f66bcca9e5526a267e.webp" alt="Bloomberg analysts estimate spot Bitcoin ETF market to hit $100b - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   Bitcoin Spot ETF <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> size | Source: Galaxy Digital
  </figcaption>
 </figure>
 <p>Poor price performance as well as other factors might lead to lower-than-expected access or adoption, Galaxy <a rel="noopener noreferrer nofollow" title="analysts" href="https://thebittimes.com/tag/analysts.html">analysts</a> pointed out.</p>
 <blockquote class="wp-block-quote">
  <p>“On the other hand, we believe our assumptions on access, exposure, and allocation are conservative, so inflows could also be higher than expected.”</p>
  <p>Charles Yu, Research Associate at Galaxy Digital</p>
 </blockquote>
 <p>The SEC continues to delay ETF application approvals, citing the prevailing uncertainty regarding the approval of such crypto-based investment products. BitGo CEO Mike Belshe&nbsp;anticipates&nbsp;more challenges for the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>, addressing unresolved <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> structure issues as a significant hurdle.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> SEC delays verdict on Franklin and Globe X’s Bitcoin ETF applications
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bloomberg-analysts-estimate-spot-bitcoin-etf-market-to-hit-100b-tbt70949.html">https://thebittimes.com/bloomberg-analysts-estimate-spot-bitcoin-etf-market-to-hit-100b-tbt70949.html</a></p>

Bloomberg analysts estimate spot Bitcoin ETF market to hit $100b

TheBitTimes

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