Spot bitcoin (BTC) exchange-traded funds (ETFs) might appeal to a minimum of $14.4 billion of inflows within the first 12 months of issuance, crypto fund Galaxy Digital stated in a analysis observe on Tuesday. An ETF could possibly be a greater funding car for traders in comparison with at the moment provided merchandise, reminiscent of trusts and futures, which maintain over $21 billion in worth, the fund stated. The inflows might ramp up by $27 billion by the second 12 months and $39 billion by the third 12 months, it added. “The U.S. wealth administration trade will possible be essentially the most addressable and direct market that might have essentially the most web new accessibility from an accepted Bitcoin ETF,” the observe learn. “As of October 2023, property managed by broker-dealers ($27 trillion), banks ($11 trillion) and RIAs ($9 trillion) collectively totaled $48.3 trillion.”