During an event Matthew Sigel, the Head of Digital Assets Research, at VanEck mentioned that he had received information from a source indicating that there is an amount of funds exceeding $2 billion.
These funds are supposedly from existing holders who’re keen on expanding their positions in the market. According to Sigel many individuals are actively reaching out. Seeking investors who can contribute to these products.
While Sigel couldn’t provide a guarantee regarding this news it seems that numerous efforts are being made to secure backing for these ventures. If the speculated $2 billion actually materializes within the week following the launch of BlackRocks Bitcoin spot ETF it would surpass estimations.
Previously our projection for trade volume in the quarter was set at $2.5 billion by examining inflows into the initial gold ETF and adjusting based on U.S. Money supply trends. By applying an analysis approach we anticipate a market opportunity of $40 billion, within two years.