The anonymous host of InvestAnswers is predicting that the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) will trigger massive inflows from Wall Street giants.
The analyst tells his 447,000 YouTube subscribers that investing giants Fidelity Investments, Charles Schwab, Citadel, Deutsche Bank, BlackRock, Nomura and Franklin Templeton collectively have $25.22 trillion in assets under management (AUM).
According to the analyst, if the seven Wall Street firms allocated just half a percentage point of their AUM to spot Bitcoin ETFs in the first year after the April 2024 BTC halving, the flagship crypto asset could surge by approximately 3,219% from current levels in less than half a decade.
“[If Wall Street giants] allocate 0.5% of assets under management, that many believe they will probably do very easily, especially with the connections of pension funds et cetera that need some type of alpha to dig their pension funds out of a hole or else they’re just going to go backward and become defunct.
This is the assumption that 0.5% of assets under management goes in the first year from April 2024 all the way up. If this happens just for that first year, the demand will spike the price of Bitcoin by April 2028.
And again assuming that 0.5% allocation happens in the first year, another 0.5% in the second year et cetera, et cetera, that will take us to the price of $920,000 per Bitcoin in the year April 2028.”
On when the Wall Street giants could start buying BTC should spot Bitcoin ETFs get the green light, the analyst says,
“One of the senior executives from BlackRock said they will get that spot ETF in the next three to six months. As I said, it has to be before the halving. BlackRock doesn’t want to come in after the halving. They know that’s when the fireworks go off.”
BTC is worth $27,715 at time of writing.
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The post Spot Bitcoin ETFs Could Send BTC Skyrocketing by Over 3,200%, Says InvestAnswers Host – Here’s the Timeline appeared first on The Daily Hodl.
