In 2024, institutional investors are poised to exhibit increased interest in the digital asset market, driven by factors such as the potential approval of a Bitcoin ETF, anticipated lower US interest rates, and enhanced regulatory clarity.
A surge in stock participation is anticipated, with Bitfinex analysts pointing to the approval of a spot exchange-traded fund linked to the primary cryptocurrency as a key catalyst for traditional financial entities entering the space.
The introduction of this financial instrument is seen as a convenient avenue for institutional investors to engage in digital gold trading, providing a regulated and more accessible investment product for both retail and institutional participants.
Bitfinex analysts, aligning with the views of many researchers, suggest that the potential approval of ARK Invest’s Bitcoin ETF in January 2024 could significantly influence the asset’s price.
They anticipate this approval before January 10, pointing to indicators such as recent document updates and the SEC’s deadline for introducing amendments.
