CryptoQuant: Crypto Market Cap Will Reach $1T After Bitcoin ETF Approval
Main page Opinion, Bitcoin, Bitcoin-ETF, Cryptocurrency
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Oct. 18, 2023

According to CryptoQuant analysts, the market capitalization of cryptocurrencies will reach $1 trillion if a spot Bitcoin ETF is approved in the United States.

According to them, this will lead to the next wave of adoption of this asset class by institutional investors.

In their view, following Ripple's and Grayscale's victories over the SEC, the chances of the regulator approving a Bitcoin ETF by March 2024, when the deadline for a decision on applications arrives, have increased significantly.

The approval of the product will mean an inflow of $155 billion into the Bitcoin market, which could increase the asset's capitalization by between $450 billion and $900 billion, equivalent to one-third of its current value.

The experts believe the realized capitalization will increase as Bitcoin purchases rise to higher prices than the sellers' purchase price, while market capitalization will grow faster than expected, as the former reflects the price of all coins, while the latter only represents those involved in recent purchases.

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