Bitcoin Report from Galaxy Digital! “If This Happens, BTC Could Rise 74 Percent!”

Ongoing speculation and positive news about the approval of a Spot Bitcoin ETF has pushed the BTC price above $35,000.

While the latest developments regarding Blackrock’s spot ETF application stirred the BTC price, the leading cryptocurrency fund Galaxy Digital published a new report about spot Bitcoin ETFs.

Stating that spot Bitcoin ETFs could attract at least $14.4 billion in inflows in the first year after their approval, Galaxy Digital said that this approval could also trigger a significant rise in the BTC price and help a 74% increase in the Bitcoin price.

The report stated that the spot Bitcoin ETF may be a better investment tool for investors compared to products such as trusts and futures ETFs currently offered, which are valued at over $21 billion.

It was also stated that after approval, spot ETF inflows could increase by $27 billion in the second year and $39 billion in the third year.

“An approval for spot Bitcoin ETFs could attract at least $14.4 billion in inflows in the first year. This would have a positive impact on the BTC price.

Considering the liquidity and price impact of billions of dollars of investments at this point, we think inflows could help fuel a 74% increase in Bitcoin price in the first year.

Currently available investment products have significant disadvantages for investors, such as high fees, low liquidity and difficulty in tracking. Additionally, these investment products are inaccessible to a wide range of investors.

For these reasons, a spot ETF may be suitable for any investor who wants direct exposure to Bitcoin without the obligation to hold BTC.”

Finally, Galaxy Digital added that the US asset management sector represents the most accessible and direct market for a potentially approved spot Bitcoin ETF.

*This is not investment advice.