Grayscale CEO Highlights Possible $30 Trillion Unlock In Advised Wealth After Spot Bitcoin ETF Approvals, Another Crypto Analyst Says BTC Price Will Skyrocket
Portfolio Pulse from Khyathi Dalal
Grayscale Investments CEO Michael Sonnenshein discussed the potential impact of a spot Bitcoin ETF on the crypto market, suggesting it could unlock $30 trillion in advised wealth. He emphasized the benefits for institutional adoption and smooth participation in the crypto market. Crypto analyst MDBitcoin and The Bitcoin Therapist also commented on the potential for significant market growth if a small percentage of the $30 trillion is invested in Bitcoin. Bitcoin's price has seen a recent surge, with a 1.3% increase in the past 24 hours and a 14.5% gain over the past 30 days.
December 19, 2023 | 11:59 pm
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Grayscale's CEO believes a spot Bitcoin ETF could significantly increase institutional investment in crypto, potentially benefiting Grayscale Bitcoin Trust.
The CEO's comments suggest a positive outlook for Grayscale Bitcoin Trust if a spot Bitcoin ETF is approved, as it could lead to increased investment from advisors managing large wealth funds.
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