The price of bitcoin could nearly triple when the first crypto exchange-traded fund (ETF) makes its New York Stock Exchange (NYSE) debut on Tuesday, according to analysts at US research consultancy Fundstrat.
The New York-based researchers, who had previously projected the world’s most valuable cryptocurrency to hit $100,000 by the year’s end, now say that the ProShares ETF may attract substantial inflows from investors, thus boosting the price of bitcoin.According to Fundstrat, the new bitcoin futures ETF will deliver higher first-year inflows than the Invesco QQQ Trust Series 1 fund ETF was able to attract back in 2002 by track …
