Volume of Crypto Funds Increases to $650B: Bernstein
According to a report from the brokerage firm Bernstein, the assets under management of cryptocurrency funds are expected to increase to $650 million in the next five years.
This growth will occur as the market shifts from its current “makeshift” stage to a more regulated environment.
At present, the cryptocurrency fund industry is worth about $50 billion, which accounts for only 4% of the entire digital asset industry’s $1.08 trillion market capitalization.
The launch of spot exchange-traded funds (ETFs) based on Bitcoin is expected to be the driving force behind the growth of crypto funds, as it will attract institutional investors.
The Securities and Exchange Commission (SEC) has received applications from BlackRock, VanEck, Fidelity Investments, Invesco, WisdomTree, and most recently, Franklin Templeton, to launch such ETFs.
