The SEC is not done sweating. Since last April, the experts of the brokerage company Bernstein show themselves very optimists for the crypto-asset sector. They even talked abouta coming “hyper-bitcoinization” of finance. If the Securities and Exchange Commission (DRY) finally decides to accept a Spot ETFs of Bitcoin (BTC), Bernstein analysts next see a breaking wave of ETF requests, for Ethereum (ETH) and many other major cryptocurrencies.
Flood Predictions When SEC’s “Anti-ETF Spot Dyke” Will Break
The deal for the acceptance of a Bitcoin spot ETFs has changed since the recent arrivals of the giant BlackRock and other big players in traditional finance (like Fidelity) in the game. If she does not yield before, the Securities and Exchange Commission risk of having a March 2024 eventful month to validate ETFs cash from the king of cryptos.
But end up capitulating to the avalanche of requests for exchange-traded funds on Bitcoin won’t bring peace to the financial regulatory agency for all that. In any case not if we are to believe a recent report by the experts of the broker Bernstein, led by Gautam Chhugani. Indeed, as soon as a Bitcoin spot ETF will (finally!) be accepted, other cryptocurrencies will immediately come knocking at the (already badly treated) door of the SEC.
“The opportunity for cryptocurrency ETFs will not just stop at Bitcoin (BTC), and then expand to multiple crypto-assets. »
Excerpt from Bernstein’s report
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Ethereum, then others, will rush into the breach created by Bitcoin
Bernstein’s brokerage specialists believe that after a exchange-traded-fund cash of the king of cryptos is accepted, he is the prince of altcoins – Ethereum – Who will be the first to show up in force. And other major crypto-assets will follow closely.
A real “crypto ETF cycle” could thus take place and lead the entire sector to new heights of acquisition/adoption never before reached. And that would obviously mean a new bull run (up cycle).
“Industry pressure for a spot Ether (ETH) ETF will immediately follow, given that ETH also has a similar market structure [à Bitcoin]namely a futures market (future) traded on the CME stock exchange and a spot market. (…) The good results obtained before the courts (Ripple business And Grayscale in two months), the improved odds of ETFs [spot] and the growing interest from institutional investors, position the cryptocurrency sector for an unprecedented cycle (…) led by large institutional funds, unlike previous cycles led by small retail investors. »
Excerpt from Bernstein’s report
In addition to crypto-asset spot ETFs, Bernstein experts see another spring to swell even more adoption of the sector initiated by the invention of Satoshi Nakamoto. Indeed, for the analysts of the famous brokerage firm, institutional investors should also jump on stablecoins.
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