According to CryptoPotato, the crypto industry is at an unprecedented inflection point, which could serve as a generational investment opportunity. Digital asset manager Hashdex believes prospects for Bitcoin ETFs in the US are as high as ever, and as regulated investment vehicles become more common, the role of crypto in portfolios will continue to expand. The asset manager predicted that US investors will have access to a spot Bitcoin ETF by the second quarter of the new year, and a spot Ether ETF is likely to follow. This alone is estimated to be a $50 trillion AUM market, which is significantly larger than Europe, Canada, and Brazil combined.
In addition to the scaling of distribution within the world’s largest market, the report said that there will also be the emergence of captive distribution, which would subsequently enable legacy asset managers with thousands of staff and trusted brands to offer their customers a crypto product for the first time. The US Securities and Exchange Commission (SEC) has repeatedly rejected spot Bitcoin ETF applications, expressing concerns about market manipulation. However, recent information suggests a shift, as the regulatory agency is now asking for details usually requested towards the end of an ETF application process. According to a recent Reuters report, discussions regarding the introduction of spot Bitcoin ETFs in the United States have progressed significantly. Unidentified sources revealed that the SEC has started posing detailed and technical inquiries about the products of potential spot Bitcoin ETF issuers. This development suggests that the regulator may be moving towards approving their pending applications shortly.
