According to a digital currency research group, the emergence of Bitcoin (BTC) exchange-traded fund (ETF) could increase the value of bitcoin to more than $35k, and this is not far away.
Road to $35k: ETFs or Institutional Investors?
Protuberant investors such as Ari Paul – the co-founder of BLockTower, a digital currency hedge fund which was found by a former executive of Goldman Sachs – have said that the next rally in the value of the digital currency will likely be triggered by institutional investors probably before the end of this year.
He said that the last hurdle that prevented institutional investors from entering the digital currency market is the lack of trusted custodianship. Upon the completion of the custodian solutions of Coinbase and the approval of crypto firms to function as custodians, a lot of institutional investors may enter the digital currency market.
Paul said that institutional fund started dripping into digital currency in the middle of last year, but it has been slower than expected. There are lots of pieces that need to be put together, and one of the most significant pieces is third-party custody.
Other Alternatives to the Growth of the Crypto Market
The entrance of institutional investors into the digital currency market is not the only way top digital currencies such as BTC can experience a massive increase in its value. The entrance of some publicly tradable instruments into the market such as ETFs could also cause the value of top digital assets to increase massively.
The Emergence of ETFs
Researchers at IronWood believe that bitcoin exchange-traded funds will be the driving force of the next mid-term rally. They believe that with the emergence of ETFs, the value of bitcoin could rise of over $35,000, and some digital asset firms are currently working on this project.
The Winklevoss twins are currently working on their own ETF called Coin, and they are working with VanEck to increase their chances of being approved by the Securities and Exchange Commission.
Posted from my blog with SteemPress : https://smartereum.com/21107/bitcoin-btc-price-prediction-2018-the-value-of-bitcoin-could-hit-the-35k-mark-with-the-emergence-of-etfs-bitcoin-btc-news-today/