Nickel Digital : Institutional investors and wealth managers predict the price of Bitcoin will be at least 10% higher within six months due to the SEC approving the launch of spot ETFs in the U.S.
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Anatoly Crachilov, CEO and Founding Partner at Nickel Digital
· 73% of institutional investors and wealth managers predict Bitcoin price will rise 10% or more within six months
· BlackRock’S focus on digital assets is paving the way for more institutional investment and Ethereum spot etfs will follow, study finds
· 95% OF INVESTORS AGREE APPROVAL OF BITCOIN SPOT ETFS ARE A GAME CHANGER FOR THE INDUSTRY
Institutional investors and wealth managers predict the price of Bitcoin will be at least 10% higher within six months due to the SEC approving the launch of spot ETFs in the U.S., new global research (1) by London-based Nickel Digital Asset Management (Nickel), Europe’s leading award-winning, regulated digital assets hedge fund manager founded by alumni of Bankers Trust, Goldman Sachs and JPMorgan, shows.
Around 73% of professional investors expect Bitcoin to rise by 10% or more as a result of the SEC’s decision with nearly 1 in 10 predicting gains of 51% or more over the next six months, the study with institutional investors and wealth managers in the US, UK, Germany, Switzerland, Singapore, Brazil and the United Arab Emirates who collectively manage around $816 billion in assets found. The study was conducted when the price of Bitcoin was around $45,000.
Almost all (95%) questioned agree that the approval of Bitcoin spot ETFs in the U.S. is a game changer and an inflection point for the crypto industry with 80% predicting more digital assets will have spot ETF applications filed for them. Around 68% believe this will happen within six months.
A key driver is that major financial organisations such as BlackRock and Fidelity have filed applications for Bitcoin and Ethereum spot ETFs and the study found that investors believe the involvement of these types of firms will convince more institutions to take digital assets seriously.
Up to 93% agree that the interest shown in Bitcoin by companies such as BlackRock paves the way for more financial institutions to focus on the digital asset sector and take the asset class more seriously. Around 21% strongly agree with that view.
The SEC approval of spot ETFs has influenced views on where the next digital asset bull run will originate with the US seen as the most likely country as the table below shows.
| Where do you believe the next crypto bull run will originate? | Percentage of professional investors choosing this country/region |
| US | 39% |
| Continental Europe | 26% |
| UK | 20% |
| Asia | 8% |
| Middle East | 7% |
Anatoly Crachilov, CEO and Founding Partner at Nickel Digital, said: “The SEC approval of Bitcoin spot ETFs was much anticipated and factored into pricing, with the fall in price over the last week very much expected.
“However, it is a game changer for the industry over the long run and a potential inflexion point for the industry with institutions upbeat about the price reaction over the next six months with an expectation that more digital assets will become available to invest in via spot ETFs.”
(1) Nickel Digital commissioned the market research company Pureprofile to interview 200 institutional investors and wealth managers across the US, UK, Germany, Singapore, Switzerland, Brazil and the UAE in January 2024.
Source: ETFWorld.co.uk
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