Bernstein analysts, in a recent research report, project robust expansion for Bitcoin (BTC) and Ethereum (ETH) ETFs. Based on the report estimate, the market could grow to a staggering $450 billion.
Strong Inflows and Bullish Bitcoin Predictions
Analysts Gautam Chhugani and Mahika Sapra predicted substantial inflows of over $100 billion into crypto ETFs within the next 18-24 months based on their cryptocurrency price forecasts.
The report foresees a bullish trajectory for Bitcoin, predicting a cycle high of $150,000 by 2025, with a year-end price target of $90,000. At the time of writing Bitcoin is down by 2.08% to $68,098.16 per CoinMarketCap data.
This call is in line with other notable bullish predictions include the recent stance of CryptoQuant, a prominent On-chain data analytics provider that believes the bull market is far from over. CryptoQuant hinges its optimism on the Market Value to Realized Value (MVRV) which is currently at 2.78. According to historical data, the ratio has to peak at 4.83 and 3.97 before concluding on trend exhaustion.
Similarly, Twitter Founder and former CEO Jack Dorsey believes Bitcoin has the community to print a $1 million price valuation soon. Although Dorsey’s predictions are for 2030, the price trajectory will have to be on a steady uptick to attain that level.
Ethereum’s Regulatory Milestone Supports Projections
Meanwhile, Ethereum experienced a notable 26% increase last week following the U.S. Securities and Exchange Commission’s approval of 19b-4 filings from eight spot Ether ETF issuers. Once the S1 filings are also approved, trading of Ether ETFs will commence on exchanges.
The commencement of Ethereum spot ETF on exchanges will see traditional institutions embrace the asset. Many notable financial institutions like the Bank of Montreal and JPMorgan Chase amongst others are currently exposed to Bitcoin spot ETF products. Based on this, the adoption of Ethereum ETF may also soar.
In the report, Bernstein highlights a significant milestone, that is, Ethereum’s classification as a commodity rather than a security resolves the major controversy surrounding the cryptocurrency. This positioning might have a positive impact on ETH in the long term.
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