Fundstrat said a bitcoin ETF from BlackRock could drive a boost in daily demand for the crypto token.
If the SEC approves a bitcoin ETF from BlackRock, it could lead to the largest ETF launch ever.
A bitcoin ETF could add an extra $100 million in incremental daily demand for bitcoin, according to the note.
"This [bitcoin ETF launch] would bring daily demand to $125 million, while daily supply is only $25 million.
"We anticipate [a bitcoin ETF] would attract new investors and generate increased demand for bitcoin," Farrell said.
Persons:
Fundstrat, halvening, Sean Farrell, Farrell
Organizations:
SEC, ETF, Service, bitcoin, BlackRock, Fidelity, Chartered
Locations:
BlackRock, Wall, Silicon