Alliance Bernstein (AB), a leading asset manager, has unveiled a bullish forecast. According to AB, the Bitcoin and cryptocurrency fund management sphere could see a robust expansion, rocketing to a staggering $650 billion within half a decade. Central to this growth will be the introduction of spot bitcoin exchange-traded funds (ETFs).

Boosted by ETF Approvals

AB is particularly optimistic about the potential boost to the crypto asset management sector following the approval of BlackRock’s ETF. With the approval of a spot Bitcoin ETF predicted to be just around the corner, most likely between December 2023 and March 2024, the momentum for the industry is palpable.

It’s evident that as the cryptocurrency domain matures, it’s on track to evolve into a formal, regulated asset management industry. Currently, crypto asset managers are overseeing about $50 billion. Given the pace of the industry, coupled with increased crypto investment, the push for digitalization in finance, and broader adoption, this figure is poised to multiply many times over in the coming years.

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