‘A Big Deal’—Crypto Braced For A $30 Trillion Earthquake After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Litecoin, Solana, Tron And Polygon Price Boom

Bitcoin
BTC
ethereum and other major cryptocurrencies BNB
bnb
XRP
XRP
cardano, dogecoin, tron, polygon and solana are all up again this year after the 2022 price crash (With Binance CEO Revealing When He Thinks The Bull Run Will Return).

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The bitcoin price has surpassed $30,000 per bitcoin, double its late-2022 price, with Two Shocking Crypto Spins Helping Crypto Market Rally as The world's largest asset manager, BlackRock, pulled the trigger on a historic run.

Now, after Elon Musk surprised traders with a bullish crypto predictionbitcoin and crypto are poised for $30 trillion worth of capital to hit the market if any of the recent waves of US spot bitcoin exchange-traded fund (ETF) filings are approved by the Securities and Exchange Commission and US Securities (SEC).

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"The bottom line is that the ETF is the platform or vehicle that so many financial advisers prefer," Eric Balchunas, ETF analyst at Bloomberg Intelligence. said Cointelegraph.

"This is important because financial advisors manage about $30 trillion in assets [and] this would open up all that money. Even 1% or 2% of $30 trillion is a lot of money...it's a bridge to all that wealth."

Last month, BlackRock shocked the crypto world by unveiling a US spot bitcoin ETF, a move that was closely watched by other financial heavyweights who hope BlackRock will break through. through the regulatory minefield.

Fidelity, JPMorgan, Morgan Stanley
MS
Goldman Sachs, BNY Mellon, Invesco
IVZ
and Bank of America
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They are among the Wall Street giants who rushed to file their own ETF applications after news of BlackRock's filing broke.

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MORE FROM FORBESShock Flip Reveals 'Unprecedented' $9 Trillion 'Revolution' Could Be About to Hit the Price of Bitcoin and Major Cryptocurrencies Ethereum, BNB and XRPBy Billy Bambrough

Earlier this week, former SEC Chairman Jay Clayton said regulators would find it "difficult to resist" approving a spot ETF. "Yeah [the applicants] they are right, that the spot market is similarly efficient to the futures market, it would be hard to resist approving a bitcoin ETF,” Clayton said CNBC in comments that were applauded by bitcoin traders.

“This indicates that the acceptance of bitcoin in the traditional financial system is becoming inevitable,” Thomas Kralow, a cryptocurrency hedge fund manager, said in emailed comments. "With trillions of dollars waiting to be tapped and institutional investors entering the crypto space, the potential for growth is substantial."