Halving, tokenization, ETF, or all three? With the gloom of the crypto winter of 2022 receding further and further, the talk is getting louder bullish among the amateurs of forecasts on Bitcoin (BTC). Some see a start of the next bull run of the market with the arrival of the phenomenon of halving. The latter, which should occur in April 2024will see the block reward to miners be divided by two. But others believe that this new and huge bullish movement will take place as soon as the SEC is willing to decide to validate a Bitcoin spot ETF. In any case, this is the opinion of the experts of Bernstein.
The SEC is going to be forced to accept a BTC spot ETF, sooner or later
Decidedly, analysts at the brokerage firm Bernstein have been taking a keen interest in cryptocurrencies lately. After a recent report on the very promising future of stablecoinsnow these investment specialists are predicting “a flywheel of growth” to the crypto market in case of approval of a Bitcoin Spot ETF.
Although the Securities and Exchange Commission (DRY) strives to play the watch and refuse to approve such an exchange-traded fund, Bernstein’s experts want to be optimists on this topic in a recent report. Because the odds that US regulators will end up to sell would have substantially increase.
“With the interest of the world’s leading asset managers in Bitcoin spot ETFs, and the potential mechanisms to address the objections of the Securities and Exchange Commissionthe probability of approval [d’un tel ETF] has expanded. »
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Bitcoin Cash Exchange Traded Fund Will Be ‘Growth Factor’
If the SEC finally capitulates, it would be thanks in particular to two reasons. First, it is because there is a “strong marketing push” by major global asset managers like BlackRock, Fidelity, or even ARK Invest, who want to get their own ETF approved – and of course, preferably, first !
And secondly, according to experts led by Gautam Chhugani, there is a “distribution push” from retail brokers and financial advisors, who dream of being able to offer A Exchange-Traded Fund Bitcoin cash to their customers.
With the strong interest envisaged by the same Bernstein analysts for the stablecoins and for the tokenizationa spot ETF of the invention of Satoshi Nakamoto would be the final detonator for another push to the moon of the crypto-asset market. Because the institutional investors (the “zinzins”) would flock to this investment vehicle.
These exchange-traded funds, which would be settled in cash (therefore in bitcoins), could reach the 10% of total valuation of the BTC market from here “two to three years”, according to Bernstein. Thus, all the planets would be slowly aligning themselves before our eyes, so that the hyper-bitcoinization of finance and the economy happen. A hyper-bitcoinization that these same experts began to consider after the serious banking crisis of March 2023 (with in particular the bankruptcy of the Silicon Valley Bank).
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