Morgan Creek CEO predicts the growth of crypto market capitalization to $6 trillion
Mark Yusko expects that $300 billion will be invested in spot bitcoin funds
26.04.2024 - 11:40
144
3 min
0
The material is not an investment recommendation and is published for informational purposes only.
What’s new? Mark Yusko, the head of venture capital firm Morgan Creek Capital, has said the launch of spot bitcoin exchange-traded funds (ETFs) in the United States has attracted increased interest from regulated investment advisers and significantly altered demand patterns, and the impact of these factors “has yet to be realized.”
What else is known? Yusko believes $300 billion will flow into the bitcoin market over the course of the year, most of it from baby boomers. He believes investors born between 1946 and 1964 are beginning to learn information about the cryptocurrency market and will become more actively invested in it through retirement accounts managed by advisors. In 2022, assets under management of the latter were valued at $114,1 trillion, according to the industry association.
Trading in shares of spot BTC ETFs began in the United States on January 11 this year. Several products from such investment companies as BlackRock, Fidelity, Bitwise, ARK Invest, VanEck, Franklin Templeton, and others were admitted to the market at once. Since then, they have amassed over $53 billion worth of bitcoins under management.
Grayscale will offer a spot BTC ETF with the lowest management fee
At 1,5%, Grayscale’s GBTC fees are currently the highest in the bitcoin fund segment
According to Yusko’s prediction, since the bitcoin funds were launched, only about 15% of the amount that registered investment advisers, who “control all the boomers’ cash,” can bring in. He believes the $300 billion influx could push the crypto market’s capitalization to $6 trillion. At the time of writing, it stands at $2,48 trillion.
Earlier, analysts at the Santiment platform reported that large holders of bitcoin continue to accumulate the asset, while smaller holders are showing FOMO in anticipation of a rate hike to $70 000. The current BTC rate on Binance is $64 193 (+0,76% overnight).
Experts of the CoinGecko aggregator estimated that in the first quarter, the capitalization of the crypto market increased by 65%.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$93 012
BTC
-5.11%
-
Ethereum
$3 414.86
ETH
+1.37%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.41
XRP
-1.32%
-
Dogecoin
$0.392535
DOGE
-8.67%
-
Cardano
$0.944833
ADA
-7.69%
-
Stellar XLM
$0.482517
XLM
-10.05%
-
Polkadot
$8.23
DOT
-4.96%
-
Bitcoin Cash
$491.5
BCH
-4.61%
-
Litecoin
$92.28
LTC
-4.55%