CryptoQuant says that if the issuers that have applied to list bitcoin ETFs put 1% of their Assets Under Management (AUM) to these ETFs, approximately $155 billion could enter the bitcoin market. This represents almost a third of bitcoin’s current market capitalization. Should this scenario take place, it would hypothetically push bitcoin’s price to between $50,000 and $73,000.
Source: https://www.coindesk.com/markets/2023/10/18/spot-bitcoin-etf-approvals-could-add-1-trillion-to-crypto-market-cap-cryptoquant-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines