Galaxy Digital predicts 74% surge in BTC price after spot ETF launch
As estimated by crypto investment firm Galaxy Digital, Bitcoin is projected to see a 74.1% price increase in the first year after the U.S. launch of spot Bitcoin ETFs. In a blog post dated Oct. 24, Charles Yu, a research associate at Galaxy Digital, projected that the total market size for Bitcoin ETFs could reach $14.4 trillion in their first year. He derived the 74% price increase estimate by comparing the potential impact of fund inflows into Bitcoin ETFs with that of gold ETFs. Galaxy Digital argues that ETFs could offer a more efficient investment vehicle than existing options like trusts and futures, which currently hold over $21 billion in value. The firm anticipates that fund inflows could increase to $27 billion in the second year and $39 billion by the third year. You might also like: BlackRock spot Bitcoin ETF added to NASDAQ’s clearing agency Investor accessibility and prospects Launching Bitcoin ETFs could particularly benefit the U.S. wealth management in...