Markets
Bitcoin to Peak at $150K, Crypto ETF Market to Grow to $450 Billion: Bernstein
May 28, 2024 11:48 am | 2 minutes reading
The market for Bitcoin (CRYPTO: Bitcoin) It is Ethereum (CRYPTO: ETH) exchange-traded funds (ETFs) is poised for a dramatic rise, according to a research report released by investment firm Bernstein.
What happened: This market could reach a staggering $450 billion based on its cryptocurrency price projections, Coindesk reported.
According to analysts Gautama Chhugani It is Mahika Saprathis growth could translate into more than $100 billion flowing into crypto ETFs over the next 18 to 24 months.
Bernstein’s analysis predicts a peak Bitcoin price of $150,000 by 2025, with an optimistic year-end target of $90,000.
This optimistic outlook is fueled by the growing institutional adoption of cryptocurrencies, reinforced by regulatory advances.
Ether, the second largest cryptocurrency by market capitalization, saw a significant increase of 26% last week.
This increase followed the U.S. Securities and Exchange Commission’s (SEC) approval of 19b-4 filings for eight spot Ether ETF issuers.
Once these ETFs receive approval for S1 filings, they will begin trading on exchanges.
Read too: SOL drops 3% as FTX bankruptcy completes Solana token sales
The SEC’s decision to classify Ether as a commodity rather than a security has resolved one of the most controversial issues surrounding cryptocurrency.
This regulatory clarity sets a precedent for other blockchain-based tokens, potentially paving the way for their evolution from token sales to established financial assets.
Bernstein highlighted that Ether is the first proof-of-stake token to receive approval as a spot ETF.
This milestone is expected to have a positive impact on other blockchain tokens, with Solana (CRYPO:SOL) being a notable beneficiary.
What is the next: Looking ahead, Benzinga Future of digital assets event on November 19th. is prepared to provide more information about these trends.
Industry leaders and experts will come together to discuss the latest developments, predictions and implications for the future of digital assets, offering a comprehensive view of this rapidly expanding sector.
Read next: Top Trader’s Ethereum Price Prediction Aims for All-Time Highs in 2025
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