A Galaxy representative predicted that the #ETFBitcoingiaongay funds will see wider adoption in the coming months. As reported by FOX Business on February 19.
Growth Forecast for Bitcoin Spot ETF
Steve Kurz, global head of asset management at Galaxy, said:
“Over the next year, I would be surprised if the top 10 brokerages are not on board with this… We will probably see FOMO from institutions.”
FOX Business journalist Eleanor Terrett contextualized this statement by noting that companies offering spot Bitcoin ETFs have been “inundated with inquiries from financial advisors.”
Some advisors are currently not allowed to recommend spot Bitcoin ETFs to clients. Because their company must first perform due diligence on the products. From there comes their market performance. Current restrictions appear to leave room for future approvals.
Terrett obtained Kurz's comments during the ETF Exchange Conference in Miami Beach, Florida. She added that Bitwise, Grayscale and Galaxy have discussed the successful launch of their Bitcoin spot ETFs.
The Future of Ethereum Spot ETFs
Terrett previously reported on the session's comments on pending Ethereum spot ETFs. According to that report, executives at all three companies predict there is a 50% chance that the US Securities and Exchange Commission (SEC) will approve a spot Ethereum ETF in May.
#SEC must decide on VanEck's Ethereum spot ETF application on May 23. It is expected that the regulator will rule on similar applications at the same time as a Bitcoin ETF. No approval of any ETFs was required at that time.
