ETF specialist Nate Geraci believes 2024 will be a historic year for Bitcoin ETFs. The analyst, who is especially interested in Bitcoin and BlackRock’s performance in comparison to Vanguard, projects a big change in the ETF market.
The surge of Bitcoin ETFs
The subject of Geraci’s audacious forecast for 2024 is Bitcoin ETFs. He predicts that spot Bitcoin ETFs as a whole will outperform all prior ETF launch records.
This confidence is in contrast to wealth management platforms’ cautious approach to these products and the scepticism of certain financial advisers. Geraci is confident because he thinks there is unmet demand for spot Bitcoin exchange-traded funds.
He contends that major asset managers, like Fidelity, Invesco, and BlackRock, are not in the business of pursuing little chances.
He asserts that these companies have laid a substantial foundation for these ETFs’ success, which he predicts will result in a revision of the ETF records. This forecast is made in spite of the lack of agreement on how the price of Bitcoin will change in the future.
Other key predictions for 2024
In addition to Bitcoin exchange-traded funds, Geraci predicts a shift in the ETF industry leadership, with BlackRock surpassing Vanguard in market share.
He states that this change will be largely influenced by BlackRock’s wide range of products, active management approach, and participation in the spot Bitcoin ETF market.
Geraci also thinks the SEC will approve a multi-share class structure, which may have a big effect on the expansion of the ETF market.
Lastly, he predicts a decline in the appeal of covered call ETFs, citing withdrawals from these funds, particularly if the stock market keeps rising.
