Eric Balchunas thinks regulatory apprpoval in the U.S. will follow on the heels of successful launches in Canada.
A bitcoin (BTC, +1.65%) exchange-traded fund (ETF) in the U.S. could be in the cards this year.
That’s according to Eric Balchunas, an ETF analyst at Bloomberg Intelligence, Bloomberg reported on Tuesday.
“The institutional adoption of crypto is much greater,” Balchunas said when asked why he thought this year was different to bitcoin’s last bull run in 2017 and 2018. “You have the intense growth of ‘default’ crypto products like (Grayscale’s Bitcoin Trust) which are not ideal for retail investors and the SEC (U.S. Securities and Exchange Commission) knows this.”