The head of research for a leading digital assets manager says one catalyst could cause Bitcoin (BTC) to soar to more than $265,000.
In a new blog post, CoinShares head of research James Butterfill shares his calculations of a potential price impact if a spot BTC exchange-traded fund (ETF) is approved by the U.S. Securities and Exchange Commission (SEC).
He says that the ETF financial product would attract a large influx of institutional money, some portion of an estimated $48.3 trillion addressable assets in the United States.
“One could assume that perhaps 10% invest in a spot Bitcoin ETF with an average allocation of 1%, which would equate to $14.4 billion of inflows in the first year…
There does seem to be a relationship