Connect with us

Hi, what are you looking for?


Galaxy Predicts An Increase Of 74% In Bitcoin price In The First Year After ETF Launch

Bitcoin Investors loos
Image Source: Pierre Borthiry - Peiobty@Unsplash

The crypto investment firm Galaxy Digital estimates that the price of Bitcoin (BTC) will increase by 74.1% in the first year after spot Bitcoin exchange-traded funds (ETFs) are launched in the United States.

In a blog post on October 24, Galaxy Digital research associate Charles Yu projected that the total addressable market size for Bitcoin ETFs would be $14.4 trillion in the first year. He arrived at the 74% figure by considering the potential impact of fund inflows to Bitcoin ETF products, using gold ETFs as a benchmark.

According to Yu’s estimates, Bitcoin’s price would rise by 6.2% in the first month after the ETF launch and gradually decrease, reaching a monthly increase of 3.7% by the twelfth month.

Yu based his calculations on Bitcoin price data from September 30, stating that a 74.1% increase in Bitcoin’s current price would result in a value of $59,200.

In an October 19 post, Markus Thielen, head of research at Matrixport, also predicted a similar increase in Bitcoin price, estimating it could reach between $42,000 and $56,000 if BlackRock’s spot Bitcoin ETF application is approved.

Yu further forecasts that the addressable market size for US Bitcoin ETFs will reach $26.5 trillion in the second year and $39.6 trillion in the third year after launch.

Yu acknowledges that a delay or denial of spot Bitcoin ETFs could impact the predicted price increase.

Nevertheless, he considers the estimates conservative and does not take into account the “second-order effects” of a spot Bitcoin ETF approval.

“In the near-term, we expect other global/international markets to follow the US in approving and offering similar Bitcoin ETF offerings to a wider population of investors,” Yu wrote.

He also suggested that “2024 could be a big year for Bitcoin,” citing ETF inflows, the April 2024 Bitcoin halving, and the possibility of interest rates peaking or having already peaked in the near term.

Image Source: Pierre Borthiry – Peiobty@Unsplash

You May Also Like


Peloton, known for their stationary exercise bikes and treadmills, has faced significant financial challenges over the past year. The company experienced a surge in...


Amid the ongoing global supply chain challenges, many retailers in the United States are grappling with surplus seasonal stock, leading to increased storage costs...


With the continuous increase in gas prices, a decrease in consumer confidence, and the ongoing conflict in Ukraine, the European economy faces significant challenges....


As the demand for electric vehicles grows and the push for environmental sustainability increases, automakers are gearing up to focus more on the development...


Today, Brian Armstrong, the CEO of Coinbase, conveyed to his team through a company-wide email that due to declining stock and crypto values and...


Recently, Peiter “Mudge” Zatko, a former cybersecurity specialist at Twitter, published a whistleblowing document on the platform. Zatko highlighted several security issues with Twitter,...


Zelle is a popular peer-to-peer payment service that allows individuals to send and receive money, similar to apps like Venmo. It is widely used,...


Recently, after Chinese President Xi Jinping secured a third term, there was a sharp decline in the stock market in Hong Kong. Investors became...