Addressable Market Size for Bitcoin ETF to be $14.4 Trillion in the 1st Year | Crypto Daily Digest Oct.25
In an October 24th blog post, Galaxy Digital research associate Charles Yu estimated that the total addressable market size for Bitcoin ETFs would reach $14.4 trillion within the first year after their launch. He also projected a 74% increase in Bitcoin's price during that initial year, pushing it to $59,200.
According to Yu's calculations, Bitcoin's price would experience a 6.2% increase in the first month following the ETF launch before gradually tapering off to a 3.7% monthly growth rate by the twelfth month.
It's worth noting that these estimates do not account for secondary effects, as global and international markets may follow the lead of the United States in approving and offering similar Bitcoin ETFs to a broader spectrum of investors.
The financial services firm Matrixport offered a similar assessment, suggesting that the approval of a spot Bitcoin ETF could drive Bitcoin's price to a range between $42,000 and $56,000.
TRB Price Rollercoaster: Riding the Surge or Preparing for a Crash. Can the driving forces behind TRB continue to push its price to climb? Is it a good time to buy TRB?
What is OP Stack: Understanding the open-source framework championed by Optimism
Other News in Case You Missed it:
What's New from TokenInsight？
Crypto Exchange Report 2023Q3: Q3 saw a downward trend for the market as a whole, with the price of Bitcoin dropping from $30,000 to $27,000. So how are the exchanges doing? Let’s find out together.
Summary of Token Unlocks in 2023 Q4: We have compiled information on 12 upcoming token unlock events with unlock amounts exceeding $1 million. This information includes details such as unlock quantity, timing, amount, circulating supply, and other key data.