Bitcoin and Ethereum have managed to pull crowds with stunning rallies this year. With the approval of their respective spot ETFs, the world’s largest cryptocurrencies are expected to attract billions., Davis predicted that Bitcoin will soar to $150,000 and Ethereum will reach $15,000, driven by market dynamics. He points to the inflows already seen in spot Bitcoin ETFs, which are attracting hundreds of millions of dollars daily.
“Imagine the scenes when retail is here, and the bull market is at its peak. When countries, wealth managers, pension funds, and retail will be buying billions of dollars worth of ETFs daily. You are seriously not bullish enough.”at around 1,002,343 BTC, with a notable proportion allocated to US-based products out of the 32 ETFs currently available. This signals growing mainstream acceptance and institutional interest in cryptocurrencies, particularly in the US.
With the cryptocurrency’s supply fixed and diminishing due to factors such as halving events, increased institutional interest and investment through ETFs could intensify scarcity, potentially driving up demand and prices further.