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“With this plea deal, the expectations for a spot bitcoin ETF might have increased to 100% as the industry will be forced to follow the rules that TradFi firms must follow,” wrote Markus Thielen, head of research at Matrixport, referring to traditional finance. Source
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Another tailwind is the approval of a U.S.-listed spot bitcoin exchange-traded-fund (ETF), which will make it easier for companies and retail to gain access to the cryptocurrency. “U.S. bitcoin ETF is on track for an early 2024 approval, as the Securities and Exchange Commission (SEC) continues to engage on the
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The crypto industry is expected to transition from a "cottage industry" with $50 billion of managed assets to a "formal, regulated asset management industry with $500-650 billion of assets over the next five years," analysts led by Gautam Chhugani wrote. Source
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Bernstein analysts believe that diversification presents a significant commercial opportunity for asset managers. It allows them to enter the rapidly growing digital asset market and benefit from increased demand and market growth. In the world of finance, few innovations have garnered as much attention and excitement as the potential launch of
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The asset management industry is expected to push beyond bitcoin and ether into areas including other top blockchains, such as Solana and Polygon, and even leading decentralized finance (DeFi) assets, the note said. DeFi is an umbrella term used for lending, trading and other financial activities carried out on a
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The ruling increases the likelihood the SEC might approve all bitcoin spot ETF applications together, the report said. Source
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According to Bloomberg, a recent research report from Sanford C. Bernstein has shed light on the potential impact of Exchange Traded Funds
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Crypto exchange-traded-funds (ETFs) add capital to the market not just by creating demand in the spot market, but the market signal of regulatory approval of these products produces a growth flywheel for retail and other institutional flows that are seeking legitimacy, broker Bernstein said in a report Monday. Source
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Just this week, payments giant PayPal (PYPL) said it was entering the crypto market with its own dollar-pegged stablecoin, PayPal USD (PYUSD). This is a first for a major financial company. The Ethereum-based token will be available first on PayPal and then on Venmo, and can be exchanged for dollars
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