Crypto ETFs: Expanding Beyond Bitcoin and Approaching Approval, Predicts Former SEC Chairman

Bernstein analysts predict that the opportunity for cryptocurrency exchange-traded funds (ETFs) extends beyond Bitcoin and will include multiple digital assets. The industry is expected to see the approval of spot ETF applications, including Grayscale, between mid-October and mid-March. Following the approval of a Bitcoin ETF, there will likely be a push for an Ethereum ETF due to its similar market structure. The asset management industry is also anticipated to expand into other top blockchains like Solana and Polygon, as well as decentralized finance (DeFi) assets. This presents a significant commercial opportunity for asset managers to generate fees in the growing cryptocurrency market.