{"id":24056,"date":"2023-10-18T07:28:36","date_gmt":"2023-10-18T07:28:36","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-etf-approvals-could-skyrocket-crypto-market-cap-by-1-trillion-suggests-cryptoquant-report\/"},"modified":"2023-10-18T07:28:36","modified_gmt":"2023-10-18T07:28:36","slug":"bitcoin-etf-approvals-could-skyrocket-crypto-market-cap-by-1-trillion-suggests-cryptoquant-report","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-etf-approvals-could-skyrocket-crypto-market-cap-by-1-trillion-suggests-cryptoquant-report\/","title":{"rendered":"Bitcoin ETF Approvals Could Skyrocket Crypto Market Cap by $1 Trillion, Suggests CryptoQuant Report"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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A recent report by data analytics firm, CryptoQuant, suggests a potentially transformative shift in the cryptocurrency market. With the possible approval of bitcoin spot exchange-traded funds (ETFs), the bitcoin market cap might see an inflow of approximately $155 billion. This approval could catapult Bitcoin<\/a> into becoming a colossal $900 billion asset. Consequently, the overarching crypto market could experience a whopping growth of $1 trillion.<\/p>\n

In the previous year, 2020-2021, the initial wave of institutional acceptance emerged from institutions incorporating bitcoin into their balance sheets. However, the upcoming trend, as highlighted in CryptoQuant\u2019s report, might witness financial institutions broadening bitcoin access for their clientele via spot ETFs.<\/p>\n

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The anticipated capital from spot ETFs is predicted to dwarf the funds that previously poured into the Grayscale Bitcoin Trust (GBTC) during the last bull market wave. As of now, GBTC stands tall as the globe\u2019s most extensive cryptocurrency fund, managing assets worth $16.7 billion.<\/p>\n

Delving deeper into the numbers, CryptoQuant posits that if the bitcoin ETF listing applicants allocate just 1% of their Assets Under Management (AUM) to these ETFs, the bitcoin market could see an influx of around $155 billion. Astonishingly, this number is nearly one-third of bitcoin\u2019s present market cap. In a hypothetical scenario, such a massive inflow could thrust the bitcoin price anywhere from $50,000 to a staggering $73,000.<\/p>\n

Drawing parallels with the past, bitcoin\u2019s market cap during former bull markets has surged between 3 to 5 times its realized cap. As CryptoQuant elucidates, this trend means that for every new dollar invested in the bitcoin market, the potential market cap spike could range from $3 to $5.<\/p>\n

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As we move forward, it\u2019s crucial to watch the moves of several prominent financial entities. Many have already applied to introduce spot Bitcoin ETFs in the U.S. market. With speculation rife, industry insiders hint that approvals might be around the corner, potentially by March 2024.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) A recent report by data analytics firm, CryptoQuant, suggests a potentially transformative shift in the cryptocurrency market. With the possible approval of bitcoin spot exchange-traded funds (ETFs), the bitcoin market cap might see an inflow of approximately $155 billion. This approval could catapult Bitcoin into becoming […]<\/p>\n","protected":false},"author":5,"featured_media":24057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24056"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24056"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24056\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24057"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}