Halving, tokenization, ETF, or all three? With the gloom of the crypto winter of 2022 receding ever further into the distance, the rhetoric is becoming more and more bullish among forecast enthusiasts on Bitcoin (BTC). Some see this as the start of the next bull run on the market with the arrival of the halving. The latter, scheduled to take place in April 2024will see the block award to miners be halved. But others believe that this huge new bullish move will take place as soon as the SEC decides to validate a Bitcoin spot ETF. At least, that’s what the experts at Bernstein.
The SEC is going to be cornered into accepting a BTC spot ETF, sooner or later
Decidedly, analysts at brokerage firm Bernstein have been taking a keen interest in cryptocurrencies of late. After a recent report on the very promising future of stablecoinsnow these investment specialists are predicting a « growth flywheel ». to the crypto market in the event of approval of a Bitcoin spot ETF.
Although the Securities and Exchange Commission (SEC) strives to playing for time and refusing to approve such an exchange-traded fund, Bernstein’s experts were determined optimistic on this subject in a recent report. Because the chances that US regulators will end up give in would have significantly increased.
« With interest from the world’s leading asset managers in Bitcoin cash ETFs, and potential mechanisms to meet the objections of the Securities and Exchange Commissionthe likelihood of approval [d’un tel ETF] has increased.
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A Bitcoin cash exchange-traded fund will be a « growth factor
If the SEC finally capitulates, it would be thanks in part to two reasons. First, it’s because there’s a « strong marketing push » by major global asset managers such as BlackRock, Fidelity and ARK Invest, who are seeking approval for their own ETFs. and of course, preferably, first !
And secondly, according to the experts led by Gautam Chhugani, there is a « distribution surge » from retail brokers and financial advisors, which dream of being able to offer a Exchange-Traded Fund to their customers.
With the strong interest envisaged by the same Bernstein analysts for the stablecoins and for the tokenizationa spot ETF of Satoshi Nakamoto’s invention would be the final detonator for a new push to the moon by the crypto-asset market. For the institutional investors (the « zinzins ») would flock to this investment vehicle.
These exchange-traded funds, which would be settled in cash (in bitcoins, in other words), could reach 10% of total valuation of the BTC market by « two to three yearsaccording to Bernstein. All the planets are slowly aligning before our eyes, so that the hyper-bitcoinization of finance and the economy to occur. A hyper-bitcoinization that these same experts began to envision after the serious banking crisis of March 2023 (including the collapse of Silicon Valley Bank).
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