Bitcoin bears argue that the spot Bitcoin exchange-traded fund (ETF) trade is over, but analysts at Bernstein believe otherwise. Despite early allocations driven by retail investors, institutional involvement is poised to grow as ETFs gain approval at major financial institutions by Q3 or Q4 this year. The analysts see the institutional basis trade as a “trojan horse” for wider adoption, with investors now evaluating “net long” positions due to improving ETF liquidity.

Bernstein highlights that the institutional share in spot Bitcoin ETF participation is only 22%, but this is expected to rise. Financial advisors are beginning to allocate more to Bitcoin ETFs, and new FASB guidelines are facilitating corporate adoption. The increased use of Bitcoin as a treasury reserve asset is predicted to drive demand, with companies like MicroStrategy and Block leading the way.

The analysts expect Bitcoin ETF inflows to accelerate in Q3/Q4, providing new entry levels for institutional demand. They have raised their price target for Bitcoin to $200,000 by the end of 2025, with a long-term goal of $1 million by 2033, supported by unprecedented demand and strategic investments by major asset managers like Blackrock.

Former president Donald Trump is doubling down on his pro-Bitcoin stance, arguing that the USA must lead in Bitcoin and crypto or risk falling behind. Trump has emerged as a vocal Bitcoin advocate while campaigning for the 2024 election.

Trump became the first US president to accept Bitcoin lightning payments and oppose central bank digital currencies. On the campaign trail, he has promised to keep regulators away from Bitcoin if elected.

Yesterday in Wisconsin, Trump further declared he will “end Joe Biden’s war on crypto” to secure America’s future. He added new comments that “We will ensure that the future of crypto and the future of Bitcoin will be made in America, otherwise other…

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$1M – $10M MarketCap:

1. PunkAI (PUNKAI): 58%
2. PUMLx (PUMLX): 57%
3. Imaginary Ones (BUBBLE): 20%
4. Dovi (DOVI): 20%
5. FreeBnk (FRBK): 18%

$10M – $100M MarketCap:

1. Beercoin (BEER): 31%
2. Biaoqing (BIAO): 25%
3. ALEX Lab (ALEX): 24%
4. Grok ($GROK): 19%
5. Stader (SD): 18%

$100M – $1B MarketCap:

1. Convex Finance (CVX): 45%
2. Degen (Base) (DEGEN): 25%
3. Mog Coin (MOG): 21%
4. Non-Playable Coin (NPC): 20%
5. MAGA (TRUMP): 18%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Bitwise Asset Management’s updated filing for its Ether ETF hints at a potential $100 million investment from Pantera Capital Management. This revision, a critical phase in securing SEC approval for public trading of the ETF, showcases growing institutional confidence in cryptocurrency. Set to be listed on NYSE Arca with the ticker symbol “ETHW,” this move could pave the way for broader accessibility of Ether in traditional financial markets.

Following the SEC’s recent cessation of its investigation into Ether’s classification as a security, the path has cleared for Ether ETFs like Bitwise’s to commence trading. The SEC’s nod towards no further charges against Ethereum 2.0 and its consensus mechanism marks a positive shift towards crypto integration into mainstream financial frameworks.

This development is not just a win for Bitwise but a bullish signal for the entire crypto industry, reflecting heightened investor interest and confidence in digital assets. As the landscape for cryptocurrency continues to evolve, such milestones are crucial for its acceptance and integration into conventional investment portfolios.

SEC filing