• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
Bitcoin ETF price prediction

Galaxy Foresees Stellar 74% Bitcoin Price Surge In Post-ETF Debut Year

Jake Simmons by Jake Simmons
1 month ago
in Bitcoin
Reading Time: 3 mins read

Galaxy Digital, a leading player in the digital assets sphere, has issued a bullish prediction for Bitcoin’s trajectory following the launch of the much-anticipated US-regulated spot Bitcoin ETF. According to a recent study published by the firm on October 24, the introduction of the ETF is set to considerably bolster Bitcoin’s adoption, positioning it more firmly as a recognized asset class.

Advantages Of An ETF

Galaxy’s analysis highlights that a spot Bitcoin ETF would be “one of the most impactful catalysts for the adoption of Bitcoin (and crypto as an asset class).” By the end of September, Bitcoin assets held across diverse investment products like ETPs and closed-end funds touched an impressive figure of 842,000 BTC, valuing approximately $21.7 billion.

Galaxy Digital’s study also sheds light on the challenges faced by these investment avenues, pointing to factors like high fees, tracking errors, limited liquidity, and a somewhat constrained reach amongst broader investor groups. The introduction of the spot Bitcoin ETF, the report suggests, is poised to change this scenario dramatically.

Related Reading: From $35,000 To $500,000? The Bitcoin Rollercoaster This Expert Sees Ahead

Spot Bitcoin ETFs offer a multitude of benefits over the current structures: an improved fee system, greater liquidity, better price tracking, and a much-needed break from the complications of self-custodying assets. As the report explicitly states, “The presence of a US-regulated spot Bitcoin ETF that adheres to strict regulatory compliance not only provides a more secure platform but also elevates its transparency, making it a preferable choice over existing investment products.”

Why A Spot Bitcoin ETF Matters

Galaxy believes that the introduction of a Bitcoin ETF would increase the digital asset’s “accessibility across wealth segments” and establish “greater acceptance through formal recognition by regulators and trusted financial services brands.”

The report highlights the disparity between age groups when it comes to Bitcoin investments. It reveals that while Boomers and older generations hold 62% of US wealth, only 8% of adults aged 50 and above have invested in cryptocurrency.

Related Reading: MicroStrategy’s Bitcoin Portfolio Soars Past $5 Billion As BTC Holds Firm At $34,000

Galaxy sees regulatory approval for a Bitcoin ETF as a significant step towards establishing Bitcoin as a mainstream investment. An ETF could help reduce market volatility by offering “greater price transparency and discovery for market participants.”

Estimating Inflows From ETF Approval

Galaxy’s forecast suggests the US wealth management sector, managing a combined asset worth $48.3 trillion, will be the most impacted by a Bitcoin ETF’s launch. They estimate potential inflows into the Bitcoin ETF to be around $14 billion in the first year, escalating to $27 billion in the second year and reaching $39 billion by the third year.

Factoring in the historical relationship between gold ETF fund flows and gold price change, Galaxy predicts a potential price increase of 6.2% for BTC in the first month after an ETF’s launch. They project this to taper down to +3.7% by the last month of the first year, resulting in an estimated +74% increase in BTC in the first year of an ETF approval. At the current price, this would mean that BTC could rise above $59,000 in the post-ETF debut year.

Estimated Spot Bitcoin ETF inflows in the first year | Source: Galaxy
Estimated Spot Bitcoin ETF inflows in the first year | Source: Galaxy

The Bigger Picture

Beyond the potential inflows into a US ETF product, Galaxy predicts that there will be a much larger impact on BTC demand “from second-order effects”. The potential approval of a spot ETF in the US might instigate similar products in other global markets. Moreover, Galaxy expects that various other investment vehicles, like mutual funds and private funds, will integrate Bitcoin into their strategies.

Galaxy suggests the potential for Bitcoin’s Total Addressable Market (TAM) to grow substantially, perhaps encroaching on traditional asset sectors like real estate and precious metals. The estimated potential new inflows into BTC could range between $125 billion to $450 billion “over an extended period.”

Broader potential market reach of Bitcoin
Broader potential market reach of Bitcoin | Source: Galaxy
Featured image from Shutterstock, chart from TradingView.com
Tags: bitcoinBitcoin ETFbitcoin pricebtcbtcusdgalaxySpot Bitcoin ETF
Tweet123Share196ShareSend
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has nurtured an unwavering passion for Bitcoin since 2016. Delving deep into the crypto world daily, he disseminates his profound insights and expertise to readers and the wider community. Jake is a firm believer in Bitcoin's transformative power over the conventional fiat currency system. Holding a degree in Business Informatics, Jake has been entrenched in the blockchain and crypto professionally since his graduation in 2017. Engage with his latest takes on Twitter: @realJakeSimmons.

Related Posts

Bitcoin whale

Mystery Bitcoin Whale Who Bought 10,000 BTC Has Been Exposed

5 hours ago
Bitcoin price up today

Bitcoin Price Breaks Above $38,800, These Are The Reasons

9 hours ago
Bitcoin Spot ETF

Bitcoin Spot ETF In January 2024: A New Player Just Joined The Game

20 hours ago
Bitcoin

Bitcoin 65% Crash Possible? $54 Million In Buy Orders Pile Up At $12,000

1 day ago
Bitcoin

Crypto Analyst Who Sold The Bitcoin Top Reveals How To Buy And Sell At The Perfect Time

1 day ago
Bitcoin ETF BlackRock

Bitcoin Price Stalls Below $38,000 Amid BlackRock-SEC Talks

1 day ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • GoMining Unveils The West NFT Collection

    2 hours ago
  • Where to Invest in Crypto? Experts Highlight Top Picks...

    3 hours ago
  • Investors’ New Favorite: BorroeFinance Surges Past...

    4 hours ago
  • Maximizing Profits in Forex: Raw Spread Forex Brokers’...

    5 hours ago
  • Rebel Satoshi’s Next Stage Excites Market: A Fresh...

    5 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.