The market for Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) exchange-traded funds (ETFs) is poised for a dramatic surge, according to a research report released by investment firm Bernstein.
What Happened: This market could balloon to a staggering $450 billion based on their cryptocurrency price projections, Coindesk reported.
According to analysts Gautam Chhugani and Mahika Sapra, this growth could translate into over $100 billion flowing into crypto ETFs within the next 18 to 24 months.
Bernstein's analysis forecasts a peak Bitcoin price of $150,000 by 2025, with an optimistic year-end target of $90,000.
This bullish outlook is fueled by the increasing institutional adoption of cryptocurrencies, bolstered by regulatory advancements.
Ether, the second-largest cryptocurrency by market capitalization, experienced a significant 26% rise last week.
This surge followed the U.S. Securities and Exchange Commission's (SEC) approval of 19b-4 filings for eight spot Ether ETF issuers.
Once these ETFs receive approval for S1 filings, they will begin trading on exchanges.
Also Read: SOL Down 3% As FTX Bankruptcy Estate Concludes Solana Token Sales
The SEC's decision to classify Ether as a commodity rather than a security has resolved one of the most contentious issues surrounding the cryptocurrency.
This regulatory clarity sets a precedent for other blockchain-based tokens, potentially paving the way for their evolution from token sales to established financial assets.
Bernstein highlighted that Ether is the first proof-of-stake token to receive approval as a spot ETF.
This milestone is expected to positively impact other blockchain tokens, with Solana (CRYPO: SOL) being a notable beneficiary.
What's Next: Looking ahead, the Benzinga Future of Digital Assets event on Nov. 19. is poised to provide further insights into these trends.
Industry leaders and experts will gather to discuss the latest developments, forecasts, and implications for the future of digital assets, offering a comprehensive view of this rapidly expanding sector.
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