The possibility of a Bitcoin spot Exchange Traded Fund (ETF) launching in the US, which has gained much attention over the past months, has again made headlines due to Bloomberg ETF analyst Eric Balchunas’s recent suggestions.
According to the analyst, should the US Securities and Exchange Commission (SEC) approve BlackRock’s Bitcoin spot ETF, a vast pool of $30 trillion capital overseen by US financial advisors could be directed toward Bitcoin investments.
Notably, Balchunas clarified that while the approval of a BTC spot ETF could serve as an accessible pathway for the $30 trillion managed by financial advisors to flow into BTC investments potentially, it is not particularly sure if the entirety of the $30 trillion would move into Bitcoin.
The analyst noted that only a fraction of that amount might consider investing. Balchunas noted: “But even if 0.5% of that allocates, it’s $150b.”
Hey I said that a spot ETF will be a bridge to the $30T advisors manage, a very small amt of which may invest, not all 30!