Spot bitcoin (BTC) exchange-traded funds (ETFs) might entice no less than $14.4 billion of inflows within the first yr of issuance, crypto fund Galaxy Digital stated in a analysis notice on Tuesday. An ETF could possibly be a greater funding automobile for buyers in comparison with presently supplied merchandise, akin to trusts and futures, which maintain over $21 billion in worth, the fund stated. The inflows might 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 seemingly be essentially the most addressable and direct market that may have essentially the most internet new accessibility from an authorized Bitcoin ETF,” the notice learn. “As of October 2023, property managed by broker-dealers ($27 trillion), banks ($11 trillion) and RIAs ($9 trillion) collectively totaled $48.3 trillion.”
