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Investors predict spot ETFs are worth 10 per cent bitcoin boost: Nickel Digital Asset Management

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Institutional investors and wealth managers predict the price of bitcoin will be at least 10 per cent higher within six months due to the SEC approving the launch of spot ETFs in the US, according to new global research by London-based Nickel Digital Asset Management.

Around 73 per cent of professional investors expect bitcoin to rise by 10 per cent or more as a result of the SEC’s decision with nearly one in 10 predicting gains of 51 per cent or more over the next six months, the study with institutional investors and wealth managers in the US, UK, Germany, Switzerland, Singapore, Brazil and the United Arab Emirates who collectively manage around USD816 billion in assets found. The study was conducted when the price of bitcoin was around USD45,000.

Almost all (95 per cent) questioned agree that the approval of bitcoin spot ETFs in the US is a game changer and an inflection point for the crypto industry with 80 per cent predicting more digital assets will have spot ETF applications filed for them. Around 68 per cent believe this will happen within six months.

A key driver is that major financial organisations such as BlackRock and Fidelity have filed applications for bitcoin and Ethereum spot ETFs and the study found that investors believe the involvement of these types of firms will convince more institutions to take digital assets seriously.

Up to 93 per cent agree that the interest shown in bitcoin by companies such as BlackRock paves the way for more financial institutions to focus on the digital asset sector and take the asset class more seriously. Around 21 per cent strongly agree with that view.

The SEC approval of spot ETFs has influenced views on where the next digital asset bull run will originate with the US seen as the most likely country.

Anatoly Crachilov, CEO and Founding Partner at Nickel Digital, says: “The SEC approval of bitcoin spot ETFs was much anticipated and factored into pricing, with the fall in price over the last week very much expected.

“However, it is a game changer for the industry over the long run and a potential inflexion point for the industry with institutions upbeat about the price reaction over the next six months with an expectation that more digital assets will become available to invest in via spot ETFs.”

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