Bitcoin ETFs Are Likely to See Two Developments in 2024, Analyst Says

Bitcoin (BTC) currently only knows satisfied investors; with the new all-time high of well over $73,000 valid since yesterday, almost every investor is in the black. The impressive rally is being driven by Bitcoin ETFs in the US, which have been breaking records for sales and capital inflows since launching two months ago.

Eric Balchunas from the business news agency Bloomberg specializes in ETFs and was almost always correct in his predictions about Bitcoin ETFs; his word has become increasingly important in the crypto industry. In an interview , Balchunas points out two developments that are likely to come to Bitcoin ETFs this year:

1. According to Balchunas, major financial advisors (“wirehouse”) have not yet included Bitcoin ETFs in their portfolios, but manage assets of up to $10 trillion. If such market participants actively offer Bitcoin ETFs to their customers in the near future, this could trigger an additional boost. Balchunas compares this to a new product that is made available to many interested parties through displays in supermarket chains.
2. Additional financial instruments such as options or leverage trading are currently missing around Bitcoin ETFs. Balchunas expects such investment opportunities to flank Bitcoin ETFs and find demand by September.

One should not forget the Bitcoin Halving in April, says Balchunas. He believes a BTC price jump at the halving is possible. Other experts are more skeptical on this point and believe that the Bitcoin halving has already been priced in and is losing relevance anyway.

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Conclusion: Bitcoin ETFs – positive side effects predicted

Observers are amazed every day at how Bitcoin ETFs exceed all forecasts and trigger momentum. Classic Wall Street is now the pacesetter and its sales machine for Bitcoin ETFs is running smoothly. Some crypto traders still have to get used to the new dynamics. We can recommend Balchunas ‘s X account as well as that of his colleague James Seyffart , which cover the topic of Bitcoin ETFs from the perspective of the financial industry.

So when Balchunas predicts that the success of Bitcoin ETFs will almost inevitably lead to additional sales channels and financial instruments, that is a clear statement. Ultimately, this likely means further additional capital for the Bitcoin markets and could form the basis for a long rally. The six-digit price target of $100,000 per Bitcoin is currently no longer reserved solely for optimists, but word is spreading more and more.

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(Featured image by viarami via Pixabay)

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