Jamie Coutts, a crypto market analyst at Bloomberg Intelligence, believes that the upcoming year could be a big one for digital assets. He recently posted on the social media platform X that the US currently accounts for 80% of total Bitcoin (BTC) fund assets, despite the U.S. Securities and Exchange Commission’s (SEC) stance on crypto. He also noted that digital asset manager Grayscale represents 55% of the total on its own.Coutts believes that the recent ruling by a federal judge that the SEC must reconsider Grayscale’s application to convert the Grayscale Bitcoin Trust into an exchange-traded fund (ETF) will unlock billions in Retail/RIA (registered investment advisor)/institutional capital that will flow into US-based ETFs. He believes that 2024 will be a big year for digital assets.Coutts also noted that the number of Bitcoin active entities recently spiked to a high of nearly 340,000, which he believes was due to the anticipation of the Grayscale ETF ruling. The number of active entities has since receded to around 280,000, which Coutts notes is the midpoint of the three-year range.At the time of writing, Bitcoin is trading at $27,310. The top-ranked crypto asset by market cap is down more than 1% in the past 24 hours but up more than 3.3% in the past seven days.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	positive
Relevance Score	8
People	Grayscale, SEC, Federal Judge, US, Jamie Coutts
Companies	Bloomberg Intelligence, Bitcoin, Grayscale, US Securities and Exchange Commission, Exchange-Traded Fund, Grayscale Bitcoin Trust
Currencies	Ethereum, US Dollar, Bitcoin, Sector
Securities	None