{"id":85977,"date":"2023-10-19T17:32:16","date_gmt":"2023-10-19T14:32:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85977"},"modified":"2025-09-13T02:36:18","modified_gmt":"2025-09-12T23:36:18","slug":"matrixport-etf-approval-could-push-bitcoin-to-56000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/matrixport-etf-approval-could-push-bitcoin-to-56000\/","title":{"rendered":"Matrixport: ETF approval could push Bitcoin to $56,000"},"content":{"rendered":"<p>Approval by the <span data-descr=\"Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> on launching a spot Bitcoin-<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> ETF will lay the groundwork for Bitcoin to rise to $42,000\u2013$56,000. Such estimates were issued by Matrixport analysts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Matrixport research pointed out that if the BlackRock Bitcoin ETF is approved, a conservative estimate is that the price of Bitcoin will rise to $42,000; an optimistic estimate is that with an inflow of $50 billion money, Bitcoin may rise to $56,000. <a href=\"https:\/\/t.co\/Fr1zL6vHzO\">https:\/\/t.co\/Fr1zL6vHzO<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1714942402908279070?ref_src=twsrc%5Etfw\">October 19, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In support of its forecast, analysts pointed to an expected inflow of $24\u2013$50 billion from registered investment advisers (RIAs) in the United States. This industry numbers 15,000 professionals, to whom clients entrusted capital in the amount of $5 trillion, the report states.<\/p>\n<p>The Matrixport figure of $50 billion is equivalent to about 1% of their assets under management (AUM).<\/p>\n<p>Drawing a parallel with ETFs on precious metals, which have a market capitalization of around $120 billion, analysts suggested that at least 10% to 20% of this group would consider a product based on digital gold to diversify inflation-related risks to growth. This yields an inflow estimate of $12\u2013$24 billion into the crypto market.<\/p>\n<p>An inflow of such an amount into<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-tether-usdt\"> <\/a><a href=\"https:\/\/u1f987.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> after fiat conversion would support Bitcoin rising to $42,000. If 1% of AUM ($50 billion) is allocated \u2014 to $56,000.<\/p>\n<p>Earlier, QCP Capital analysts warned that Bitcoin is expected to fall by year-end, despite hopes for ETF approval.<\/p>\n<p>According to CryptoQuant, if the product is registered, the cryptocurrency market capitalization would soar by $1 trillion. They also forecast Bitcoin\u2019s price to reach $50,000\u2013$73,000.<\/p>\n<p>Former BlackRock director Steven Schoenfeld suggested that the SEC would approve the Bitcoin ETF within three to six months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Approval by the SEC to launch a spot Bitcoin ETF will lay the groundwork for Bitcoin&#8217;s price to rise to $42,000\u2013$56,000, according to Matrixport analysts.<\/p>\n","protected":false},"author":1,"featured_media":85978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,569,1145,989,1138],"class_list":["post-85977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-etf","tag-market-analysis","tag-matrixport","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=85977"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85977\/revisions"}],"predecessor-version":[{"id":85979,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85977\/revisions\/85979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85978"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}