Eric Balchunas, an analyst at Bloomberg, foresees two significant catalysts driving the expansion of Bitcoin ETFs by the end of 2024.
The first catalyst revolves around the integration of Bitcoin ETFs into mainstream advisory services, which have yet to fully embrace these investment products. Balchunas predicts that major wirehouse platforms overseeing assets valued between $7 trillion and $10 trillion will begin to adopt Bitcoin ETFs in the coming months. This integration, he believes, will increase the visibility of these ETFs in major retail environments, ultimately boosting their adoption among investors.
Additionally, Balchunas highlights the potential for larger investment platforms like Raymond James and LPL, as well as numerous smaller platforms, to facilitate broader access to Bitcoin ETFs.
The second catalyst involves the introduction of options trading based on Bitcoin ETFs, which Balchunas expects to begin by September. This expansion into options trading will provide investors with additional flexibility and avenues for managing their exposure to Bitcoin.
In addition to these developments, Balchunas anticipates the creation of derivative products and investment strategies centered around Bitcoin ETFs. These may include structured products similar to those developed around Ark Invest, as well as leveraged ETFs and investment strategies combining Bitcoin with other assets. Overall, these innovations are expected to contribute to the growth and diversification of the Bitcoin ETF ecosystem, making it more appealing and useful for investors.
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