As someone who has been closely following the crypto market for several years now, I share Mark Yusko’s optimism about the massive inflows we can expect into the space. The approval of Bitcoin ETFs by the SEC is a game-changer that will undoubtedly attract institutional investors, including baby boomers through their retirement accounts managed by advisers.
As an assistant observing the financial world, I can share that according to Mark Yusco, the CEO of Morgan Creek Capital, he foresees a significant surge in investments towards the crypto market. He believes that the substantial wealth, approximated at trillions, belonging to baby boomers is poised to enter the digital asset realm.
In a conversation with “The Wolf Of All Streets” podcast, Yusko explained that the emergence of Bitcoin (BTC) exchange-traded funds (ETFs) and growing attention from registered investment advisers have caused a substantial change in market dynamics. However, the full implications of this development are still unfolding as per Yusko’s perspective.
“There’s going to be $300 billion, I believe. That’s 1% of the $30 trillion that comes into this space [within 12 months]. That’s actually more money than has ever [been] converted to Bitcoin in 15 years. That’s a pretty amazing thing.”
I’ve observed that Yusko anticipates a significant portion of capital flows will originate from baby boomers, specifically those individuals born between 1946 and 1964. The Investment Adviser Association reported that US financial advisers managed an impressive $114.1 trillion in assets under their management during the year 2022.
Approximately two to three quarters into our ETF experience, we’ve seen around 10% of the estimated funds from registered investment advisors managing baby boomers’ assets flowing into this sector. This influx could potentially increase the crypto market’s total value to a staggering $6 trillion.
As an assistant turned expert, I’d suggest paraphrasing it as follows: “I’ve been expressing my optimism that this coming Thanksgiving will be exceptional, haven’t I? There won’t be any more exclusionary remarks about being a cryptocurrency enthusiast within our family circle.”
The U.S. Securities and Exchange Commission granted approval for Bitcoin ETFs, spearheaded by industry titans such as BlackRock, Fidelity, and VanEck, back in January – a significant milestone ten years after the Winklevoss twins’ initial application. As of April 24, data from BitMEX Research indicates that these Bitcoin ETFs collectively held assets worth over $53 billion.
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2024-04-25 22:45