Investing.com reported on Tuesday that according to a prediction by Alliance Bernstein (AB), the crypto fund management sector could reach $650 billion in the next five years. Currently, the size of the sector is estimated to be at $45-50 billion, however, AB analysts believe that it could grow to over $500 billion in assets by 2028.
This growth is being fueled by recent developments that have increased the likelihood of a Bitcoin exchange-traded fund (ETF) being approved by the Securities and Exchange Commission (SEC) by early 2024. Mike Belshe, CEO of crypto exchange BitGo, shared his views on the delay of the ETF approval in a recent interview with Kitco News. He attributed the delay to political influences rather than legal issues, noting that the need for consistent regulation is key for protecting the US dollar’s status as the global reserve currency.
These predictions come at a time when the crypto industry is experiencing significant development which is likely to lead to increased institutional adoption and regulatory clarity in the coming years.
