Bernstein: Bitcoin Spot ETF Approval Could Help Drive New Crypto Cycle
2023/08/14 10:35
According to a report by brokerage firm Bernstein, it is expected that the Bitcoin ETF spot market will be quite large and will reach 10% of the Bitcoin market value within two to three years. The report states that cryptocurrency ETFs will benefit from "strong brand marketing efforts by global leading asset management companies" and "distribution efforts by retail brokers and financial advisors." New capital that will drive the new cryptocurrency cycle will come from new stablecoin supplies, tokenization of traditional assets, tokenization of native cryptocurrency infrastructure, and ETFs. The report also notes that on-chain assets have remained within the range of $40 billion this year, with circulating stablecoins totaling approximately $120 billion.
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