⚡Bernstein predicts bitcoin and ether ETF market to grow to $450 billion
⚗️According to a report by investment firm Bernstein, the total value of spot exchange traded funds (ETFs) on bitcoin and ether will increase to $450 billion in the next few years.
⚗️Experts noted that after the US Securities and Exchange Commission (SEC) approved 19b-4 filings from ETH-ETF issuers, the market settled the dispute over whether ether is a security or a commodity.
⚗️Bernstein points out that ether was the first asset with a Proof-of-Stake (PoS) consensus mechanism approved as a spot exchange-traded fund, paving the way for the cryptocurrency to be further adopted in the crypto industry.
⚗️Analysts suggest that the approval of the ETH-ETF could have positive implications for other digital assets such as Solana, as they too could use this precedent to make regulatory filings.
⚗️In addition, Bernstein experts confirmed a prediction that bitcoin will rise to $90,000 by the end of 2024 and reach $150,000 in 2025.
