Cryptocurrency

Bitcoin ETF

Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/king-of-cryptocurrency-throws-a-welcome-party-on-wall-street/" data-wpel-link="internal">King of Cryptocurrency Throws a Welcome Party on Wall Street</a><br></p>
<p style="text-align: justify">The king cryptocurrency is throwing a welcome party on Wall Street, hence it rose to $49,000 before falling to $46,000. This is not surprising for volatility-addicted traders, but holders of a certain age group might have sleepless nights and give up their love for BTC after retirement funds start issuing products indexed to these ETFs.</p> 
<h2 style="text-align: justify" id="predictions-after-spot-bitcoin-etf">Predictions After Spot Bitcoin ETF</h2> 
<p style="text-align: justify">Ric Edelman, an executive of one of the country’s largest RIA (transfer services) firms, says that Independent Financial Advisors will flock to spot <a href="https://en.coin-turk.com/significant-market-evaluations-in-crypto-is-it-time-to-buy-bitcoin-and-altcoins/" data-wpel-link="internal">Bitcoin</a> ETFs in the next two to three years. According to his prediction, we could see up to $150 billion in net inflows to these ETFs. This is more than double the targeted $70 billion in the first few years and could increase Bitcoin’s market value by more than $1.5 trillion.</p> 
<blockquote> 
 <p>“Our research shows that 77% of independent advisors plan to allocate an average of 2.5% of their clients’ portfolios to spot Bitcoin ETFs.”</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-301320 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/Bitcoin-Gelecegi-Yorum.png" alt="" width="597" height="388"></p> 
<p style="text-align: justify">Independent advisors manage a total balance of around $8 trillion, which corresponds to $154 billion when proportioned. In the first minutes of today’s live broadcast and for weeks, we have been saying that qualified investors would be willing to allocate a small portion of their portfolios here. This alone could significantly increase the BTC price in the long term.</p> 
<h2 style="text-align: justify" id="how-much-will-bitcoin-be-worth">How Much Will Bitcoin Be Worth?</h2> 
<p style="text-align: justify">Edelman makes an ambitious prediction for 24 months, saying that the BTC price could reach $150,000. This prediction, representing about a 3-fold increase from the current price, may not be exaggerated if institutional investors and retirement funds rush into this space.</p> 
<blockquote> 
 <p>“The flow of assets will take time. Firms need time to place these new ETFs on their platforms, and compliance departments need to create policies that govern their use. All advisors need training because most are not familiar with blockchain <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude">technology</a> and do not know how to explain Bitcoin to their clients.”</p> 
</blockquote> 
<p style="text-align: justify">Edelman founded the Digital Assets Council of Financial Professionals in 2015 to educate advisors about crypto.</p> 
<blockquote> 
 <p style="text-align: justify">“Advisors will also need time to overcome big tactical questions. They must determine which clients should invest in these ETFs and identify the best allocation for them. Advisors need to decide how they will communicate their recommendations to their clients.”</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/king-of-cryptocurrency-throws-a-welcome-party-on-wall-street/" data-wpel-link="internal">King of Cryptocurrency Throws a Welcome Party on Wall Street</a></h5>

King of Cryptocurrency Throws a Welcome Party on Wall Street

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