According to PANews, Galaxy Research released a report that, based on the total assets managed by the U.S. wealth management industry, classified and estimated the growth rate of various channels in the industry entering the Bitcoin spot ETF, and concluded that: the capital inflow in the first year after the launch of the Bitcoin spot ETF is expected to reach US$14 billion, which will increase to US$27 billion in the second year and US$39 billion in the third year after the launch.
The report also stated that if the approval of the Bitcoin spot ETF is delayed or rejected, its analysis will change due to timing and access restrictions. Alternatively, if poor price performance or any other factors lead to lower-than-expected usage or adoption of Bitcoin ETFs, its estimates may be too aggressive. On the other hand, Galaxy believes that its assumptions for access, exposure, and allocation are conservative, so inflows may also be higher than expected. Inflows from ETFs, market narratives about the upcoming Bitcoin halving, and the possibility that interest rates have or will peak in the short term all suggest that 2024 could be an important year for Bitcoin.
