Markets
Bitcoin will peak at $150,000 and crypto ETF market will reach $450 billion: Bernstein
May 28, 2024 11:48 a.m. | 2 minutes of reading
The market for Bitcoin (CRYPTO: BTC) And Ethereum (CRYPTO: ETH) exchange-traded funds (ETFs) is poised for a dramatic increase, according to a research report published by an investment firm Bernstein.
What happened: This market could reach $450 billion, according to Coindesk. reported.
According to analysts Gautam Chhugani And Mahika Saprathis growth could result in an inflow of over $100 billion into crypto ETFs over the next 18 to 24 months.
Bernstein’s analysis predicts a record Bitcoin price of $150,000 by 2025, with an optimistic year-end target of $90,000.
This bullish outlook is fueled by the growing institutional adoption of cryptocurrencies, bolstered by regulatory advancements.
Ether, the second largest cryptocurrency by market capitalization, saw a significant rise of 26% last week.
The increase follows the U.S. Securities and Exchange Commission’s (SEC) approval of 19b-4 filings for eight spot Ether ETF issuers.
Once these ETFs receive approval for S1 filings, they will begin trading on exchanges.
Also read: SOL Down 3% as FTX Bankruptcy Estate Concludes Solana Token Sales
The SEC’s decision to classify Ether as a commodity rather than a security resolved one of the most controversial issues surrounding cryptocurrency.
This regulatory clarity sets a precedent for other blockchain-based tokens, potentially paving the way for their evolution from token sales to established financial assets.
Bernstein highlighted that Ether is the first proof-of-stake token to receive approval as a spot ETF.
This step is expected to have a positive impact on other blockchain tokens, with Solana (CRYPO:SOL) being a notable beneficiary.
And after: For the future, Benzinga The future of digital assets The November 19 event is set to provide further insight into these trends.
Industry leaders and experts will come together to discuss the latest developments, predictions and implications for the future of digital assets, providing a comprehensive view of this topic. booming sector.
Read next: Top Trader’s Ethereum Price Prediction Targets All-Time Highs in 2025
Image: Shutterstock
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you’ll also receive the ultimate morning update from Benzinga AND a free $30+ gift card!
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.