• Bitcoin (BTC) price has seen a decent surge due to positive market fundamentals, one of them being the hype around spot Bitcoin ETFs.
• A survey conducted by Brown Brothers Harriman (BBH) with 325 institutional investors revealed that Bitcoin ETFs could reach $30 trillion in global asset value over the next 10 years.
• Investment asset management firms have embraced spot Bitcoin ETF which is an indication of their stance on digital assets.
Bitcoin Price Set to Explode
Bitcoin (BTC) price has printed a decent upsurge following different positive market fundamentals. The premier digital currency is currently trading at a spot price $31,155.09, having gained 1.95% in the last 24 hours. These positive market fundamentals include the hype around spot Bitcoin Exchange Traded Funds (ETFs).
Survey Reveals Potential of Bitcoin ETFs
A survey conducted by Brown Brothers Harriman (BBH) with 325 institutional investors as respondents has left the entire crypto industry in awe. According to the BBH’s 10th Annual ETF Survey, Bitcoin ETFs are expected to exceed $30 trillion in global asset value over the next 10 years given that most of the investment managers interested in crypto have at least $1 billion in assets under management (AUM). Sixty percent of investors are enthusiastic about increasing their usage of this investment option.
Positive Outlook from Bloomberg Interview
During an exclusive interview with Bloomberg, Shawn McNinch, BBH’s Global ETF Head said that “ETFs are really now core, at the center of a lot of investors’ allocation strategies.“ In addition, Bloomberg ETF analyst Eric Balchunas explained that ETFs are an investment option preferred by boomers and financial advisors and cited recent embrace of investment asset management firms around spot Bitcoin ETF as a clear indication of their stance.
Growing Acceptance and Adoption
The anticipation for a spot Bitcoin Exchange Traded Fund is mounting strongly indicating growing acceptance and adoption levels for digital assets within mainstream markets. The result from this survey shows increasing popularity as well as transformational potential of Bitcoins within the investment landscape globally.
The findings from this survey show strong growth potential for BTC prices as it becomes increasingly accepted within mainstream markets. With more asset classes and structures becoming available through exchange traded funds, BTC is set to reach unprecedented levels over time if current trends continue into 2024 and beyond..