According to analysts of research firm Bernstein, the rally in the cryptocurrency market will continue for a while.
“We expect this to continue strengthening at least until the first Bitcoin ETF is approved, likely in January,” the report by Bernstein analysts said. It was said.
Bloomberg Intelligence analysts James Seyffart and Eric Balchunas say the U.S. Securities and Exchange Commission (SEC) is likely to approve Bitcoin ETFs. is 90% he thinks.
Ethereum ETFs that invest in futures have already been approved, Bernstein analysts said, following a spot Bitcoin ETF. spot Ethereum ETF He thinks it will be established.
BlackRock, the world’s largest asset manager, had indicated its intentions to establish a spot Ethereum ETF with its S-1 filing with the SEC.
Bernstein’s report also included an update on the cryptocurrency basket that the firm created on July 31. in cart Bitcoin, Ethereum, Optimism, Arbitrum, Polygon, Lido, Solana, Uniswap, Synthetix Network, GMX And Chainlink is available.
The basket is up 34% since the end of July; 14% during the week; Since the beginning of 2023 136% provided returns.