BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says

The Impact of a Bitcoin ETF on the Crypto Market

Eric Balchunas, an ETF analyst at Bloomberg, recently speculated that the approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission could unlock up to $30 trillion worth of capital for the Bitcoin market.

He believes that financial advisors in the U.S., who have an estimated $30 trillion in assets under management, would be willing to invest in Bitcoin through a regulated exchange-traded fund. Balchunas explained in an exclusive Cointelegraph interview that “ETF is the format in which the boomers and the financial advisors prefer their investments delivered in”.

The recent Blackrock application for a Bitcoin spot ETF has sparked a new wave of optimism in the crypto market, prompting other major firms such as ARK Investment, Valkyrie, and Fidelity to file their own applications for a Bitcoin ETF.

Blackrock’s Bitcoin ETF Filing: What It Means for Crypto

The recent filing of a Bitcoin spot exchange-traded fund (ETF) by Blackrock, the world’s largest asset manager, has raised the chances of its approval from 1% to 50%, according to analyst Matthew Balchunas.

“They’re very smart and they don’t just throw filings out willy nilly”, said Balchunas. “They clearly see something out there that they think they can get through the regulators”, he added.

To better understand the implications of the Blackrock Bitcoin ETF filing for the crypto space, including Terra Crypto, Sol Crypto, The Graph Crypto, Luna Crypto, Sandbox Crypto, and Shib Crypto, check out the full interview on our YouTube channel and don’t forget to subscribe!

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space, including Voyager Crypto, Tron Crypto, and Today’s Crypto.

Categorized in:

Tagged in: