Grayscale CEO Michael Sonnenschein believes that after the launch of spot crypto funds bitcoin-ETF market capitalization will increase to $30 trillion.
The main driver of growth will be the increased interest of institutional capital in digital assets. Investment companies and funds are looking for instruments that will protect them from inflationary risks.
In 2023, the value of bitcoin increased by 160%, according to Bloomberg.
The capitalization of the largest digital currency increased by $530 billion to $853.303 billion in 12 months.
The Solana altcoin (SOL) also showed explosive growth in the outgoing year. A trader who invested $100,000 in SOL in January would have made a profit of $800,000 by the end of the year.
BTC proved to be more profitable than tech stocks and gold. Legalization of spot crypto funds in the U.S. is expected by mid-January next year.
As MicroStrategy founder Michael Saylor noted, the appearance of a new product on the U.S. stock market will create conditions for more active entry of large capital into the cryptosphere.
Bitcoin is trading below $44,000, but analysts believe it could soar above $45,000 by the end of December.