Spot bitcoin (BTC) exchange-traded funds (ETFs) may appeal to not less than $14.4 billion of inflows within the first yr of issuance, crypto fund Galaxy Digital stated in a analysis word on Tuesday. An ETF may very well be a greater funding car for traders in comparison with presently provided merchandise, akin to trusts and futures, which maintain over $21 billion in worth, the fund stated. The inflows may ramp up by $27 billion by the second yr and $39 billion by the third yr, it added. “The U.S. wealth administration business will probably be essentially the most addressable and direct market that might have essentially the most web new accessibility from an authorised Bitcoin ETF,” the word learn. “As of October 2023, belongings managed by broker-dealers ($27 trillion), banks ($11 trillion) and RIAs ($9 trillion) collectively totaled $48.3 trillion.”
