Hunter Horsley, CEO of Bitwise, has predicted that wealth management firms will increase their holdings in Bitcoin ETFs.
This forecast coincides with the predicted rise in popularity of Bitcoin ETFs following the halving.
Horsley's forecast coincides with the market's belief that there is growing demand for ETFs, as evidenced by the positive net inflow of Bitcoin investments into US ETFs just before the halving, following five consecutive days of outflows.
BlackRock's iShares Bitcoin Trust (IBIT) is closing the gap on Grayscale's fund, standing just $2 billion behind.
This puts BlackRock in position to potentially overtake Grayscale as the world's largest Bitcoin fund. Meanwhile, Grayscale's Bitcoin Trust (GBTC) fund experienced a 68-day period of losing value, losing nearly $16 billion.