The anonymous host of InvestAnswers has predicted that the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) could trigger massive inflows from Wall Street giants. According to the analyst, if seven Wall Street firms allocated just half a percentage point of their $25.22 trillion in assets under management (AUM) to spot Bitcoin ETFs in the first year after the April 2024 BTC halving, the flagship crypto asset could surge by approximately 3,219% from current levels in less than half a decade. The analyst also believes that if these Wall Street giants allocate 0.5% of their AUM in the first year, the demand will spike the price of Bitcoin by April 2028. If the same 0.5% allocation happens in the second year, the price of Bitcoin could reach $920,000 per Bitcoin in the year April 2028. An executive from BlackRock has said that they will get the spot ETF in the next three to six months, before the halving. BlackRock does not want to come in after the halving, as they know that is when the fireworks go off. At the time of writing, BTC is worth $27,715.

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Information	Details
Geography	North America
Countries
Sentiment	positive
Relevance Score	8
People	Charles Schwab, Fidelity Investments, Franklin Templeton., BlackRock, Deutsche Bank, Citadel, Nomura
Companies	Fidelity Investments, Charles Schwab, BlackRock, Deutsche Bank, Citadel, Franklin Templeton, Nomura
Currencies	Ethereum, Bitcoin
Securities	None