EXCLUSIVE: Is Crypto Mainstream Now? 4 Experts Weigh In At Benzinga's Crypto & Blockchain Outlook
Portfolio Pulse from Ivan Crnogatić
At Benzinga's Crypto & Blockchain Outlook webinar, experts from Grayscale, Tether, and the Chamber of Digital Commerce discussed the impact of a spot Bitcoin ETF approval on the cryptocurrency market. Tether's co-founder Brock Pierce sees the approval as a positive step for American businesses and investors, while Grayscale's David LaValle remains bullish on the asset class despite expecting outflows from the Grayscale Bitcoin Trust (OTC:GBTC) following its conversion to an ETF. The panel also discussed BlackRock's pivot to embrace digital assets, the SEC's ongoing adversarial stance on cryptocurrency regulation, and the potential role of Bitcoin alongside the dollar.
January 25, 2024 | 8:28 pm
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Grayscale's David LaValle expects outflows from the Grayscale Bitcoin Trust following its conversion to an ETF but remains bullish on the asset class.
While the conversion of GBTC to an ETF is seen as a positive development, the expected outflows may create short-term pressure on the trust's price. However, the overall bullish sentiment from Grayscale could mitigate some of the negative impact.
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