Spot bitcoin (BTC) exchange-traded funds (ETFs) may appeal to at the least $14.4 billion of inflows within the first yr of issuance, crypto fund Galaxy Digital stated in a analysis observe on Tuesday. An ETF might be a greater funding car for traders in comparison with presently supplied merchandise, reminiscent of 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 trade will probably be essentially the most addressable and direct market that will have essentially the most internet new accessibility from an accredited Bitcoin ETF,” the observe learn. “As of October 2023, belongings managed by broker-dealers ($27 trillion), banks ($11 trillion) and RIAs ($9 trillion) collectively totaled $48.3 trillion.”
