​Approval of Bitcoin ETF in the US will open the market access | Global CRYPTO News

​Approval of Bitcoin ETF in the US will open the market access to $ 30 trillion

This is the approximate amount of assets controlled by US investment companies that have applied to launch funds.
Approval of applications for the launch of Bitcoin spot exchange-traded funds (ETFs) in the United States will give the Bitcoin market access to $30 trillion in capital, Bloomberg Senior Analyst Eric Balciunas said in an interview with Cointelegraph.

This is the approximate amount of assets controlled by US investment companies that have submitted applications for the launch of such products to the Securities and Exchange Commission (SEC). Among them are BlackRock, Fidelity, Invesco, Bitwise, ARK Invest, WisdomTree, 21Shares, VanEck and Valkyrie.

According to Balciunas, older investors and financial advisors often invest with ETFs. Exchange-traded bitcoin funds will provide access to cryptocurrency without the need to purchase it directly.

The analyst believes that the involvement of BlackRock, the world's largest asset management company, is enough to increase the chances of such products being approved from 1% to 50%.

Cryptocurrency trading volumes rose in June for the first time in three months. The optimism of crypto traders is connected precisely with the filing of an application by BlackRock to open a bitcoin exchange-traded fund (ETF). The total volume of spot and derivatives trading on centralized exchanges increased by 14% to $2.71 trillion.