In a webinar earlier this month, ETF issuer Bitwise chief investment officer Matt Hougan predicted that a U.S. spot bitcoin ETF could attract $55 billion in net flows within its first five years of listing.
Additionally, an April 2022 Nasdaq survey found that 72% of financial advisors would be more likely to invest client assets in a spot Bitcoin ETF if the U.S. offered it.
Likewise, according to a January report by Bitwise and VettaFi, 32 percent of financial professionals cite the lack of easily accessible investment vehicles such as ETFs and mutual funds as a barrier to cryptocurrency allocation.
So plans by companies like BlackRock to launch bitcoin ETFs will be a sign of institutional adoption and growth.