Bernstein Research lays out an optimistic future for digital currency, including the potential approval of a spot Bitcoin ETF soon.
Funds that hold Bitcoin and other digital tokens are hardly a blip on the radar in the multi-trillion-dollar investment product industry. That will start to change soon—and rapidly, according Bernstein Research.
The SEC has until mid-October to challenge the ruling; at around the same time, the agency will also have to decide to approve or postpone applications from other fund companies that would pave the way for their own Bitcoin products. Lately, there have been signs that some institutions are warming to crypto, even as retail traders have all but disappeared on trading platforms like Coinbase Global .
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