According to CoinDesk, Bernstein said in a research report on Monday that with the expected launch of spot Bitcoin exchange-traded funds (ETFs) in the United States, the revenue of the cryptocurrency fund management business could be as high as $50 billion, equivalent to 4% of the current crypto market size. The research report, written by a team of analysts led by Gautam Chhugani, predicts that in the next five years, the crypto industry will transform from a "family industry" with $50 billion in assets under management to an industry with clear regulations and assets under management of between $500 billion and $650 billion.
The report also mentioned that demand in the industry will come mainly from "investment advisory, integrated wealth and private banking products, and easier access to ETFs in direct brokerage accounts." This would mean that the ETF share of Bitcoin (BTC) and Ethereum (ETH) market capitalization would reach 10%, and the share of crypto hedge funds would reach 5-6%. Bernstein predicts that by 2024, as ETFs are officially approved, crypto-finance adoption will show a “hockey stick” growth.
