Bitcoin ETFs: A $600 billion tipping point for crypto
A new report indicated Bitcoin ETFs could release $600 billion in new demand — double Bitcoin's current market cap. Here's some math behind the estimates. A United States appellate court directed the Securities and Exchange Commission (SEC) in August to reassess its denial of Grayscale's application for a Bitcoin exchange traded fund (ETF). A little-noted consequence of that decision is that it could open the floodgates for $600 billion in new cash to enter the crypto currency market. ETFs provide investors with a regulated way to gain exposure to different asset classes, including Bitcoin (BTC). The approval of a Bitcoin ETF could democratize investment in the crypto currency sector, drawing parallels to how the iShares MSCI Brazil ETF and the VanEck Brazil Small-Cap ETF have democratized investing in the Brazilian market. Despite some hurdles, market analysts anticipate potential Bitcoin ETF approval by early 2024. A Bitcoin ETF could unlock an estimated $600 billion i...