Analysts are anticipating a substantial influx of $4 billion on the first day of trading for Spot Bitcoin ETFs in the U.S. The US Securities and Exchange Commission (SEC) finally granted official approval to 11 Spot Bitcoin ETFs in a historic decision.
With issuers gearing up for imminent trading that is slated to commence on Thursday morning, significant market inflows are expected for this new investment product.
As per Bloomberg’s analysts, a significant portion, approximately $2 billion, of the anticipated $4 billion inflows could originate from BlackRock’s Bitcoin ETF.
The SEC’s green light marks a historic moment for the digital asset sector, given the long-standing anticipation and numerous Spot Bitcoin ETF applications awaiting regulatory approval. The outcome of crucial lawsuits and prevailing sentiments had already hinted at an imminent approval.
The approval, materializing on January 10th, the deadline for the SEC’s decision, swiftly paves the way for trading within 24 hours.
The projections extend further, with Bloomberg anticipating the accumulation of $50 billion in assets within the first two years of the investment product’s existence.
The 11 approved Spot Bitcoin ETFs are issued by prominent asset management firms such as Fidelity, Franklin Templeton, and BlackRock, signifying a concerted industry effort.
While expectations run high, the impact of these Bitcoin funds is poised to be significant, marking a new chapter in the cryptocurrency investment landscape. As the market eagerly awaits the unfolding of events, the spotlight remains on the potential influence and success trajectory of these recently approved investment products.
As reported earlier, Fundtart’s Tom Lee predicted that Bitcoin’s price could see $150,000 within the next 12 months post ETF approval and $500,000 in the next five years. Several others have also made highly bullish predictions on Bitcoin’s price based on projections around how much funds will flow into Bitcoin ETFs.
