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Wall Street Veteran Predicts Surge in Institutional Bitcoin Allocations by Year-End

Wall Street Veteran Predicts Surge in Institutional Bitcoin Allocations by Year-End

Veteran Wall Street analyst Jordi Visser anticipates a significant increase in Bitcoin allocations by traditional financial institutions before the close of the year. This prediction aligns with growing institutional interest in the cryptocurrency market, as evidenced by recent surveys and the performance of spot Bitcoin ETFs.

Key Takeaways

  • Traditional finance is expected to boost Bitcoin allocations in Q4.
  • Institutional investors show strong interest in crypto.
  • Spot Bitcoin ETFs have seen substantial inflows.
  • Visser is optimistic about Bitcoin's chart patterns.

Institutional Interest on the Rise

Jordi Visser, a respected macro analyst, shared his outlook during a recent interview, stating that US financial institutions are poised to increase their Bitcoin holdings by the end of 2024. He believes this trend will continue into the following year, with Bitcoin's allocation percentage growing across various portfolios.

Visser's forecast comes on the heels of a Coinbase and EY-Parthenon survey, which indicated robust institutional enthusiasm for the broader crypto market. The survey revealed that 83% of surveyed institutional investors plan to expand their crypto allocations in 2025. Furthermore, a report by Bitwise predicted substantial Bitcoin inflows, estimating $120 billion by 2025 and $300 billion by 2026.

Spot Bitcoin ETF Performance

The momentum behind Bitcoin is further supported by the performance of US-based spot Bitcoin Exchange-Traded Funds (ETFs). These ETFs have collectively recorded approximately $2.33 billion in net inflows over the past five days. Since their launch in January 2024, these ETFs have attracted a total of $56.79 billion in inflows, underscoring significant investor demand.

Visser's Technical Outlook

While Visser remains cautious about making precise price predictions, he expressed optimism regarding Bitcoin's current chart patterns. He noted the emergence of "mini breakouts" across the broader crypto market from a technical standpoint. Visser also highlighted Ethereum's performance, observing its consolidation between $4,000 and $5,000 and anticipating a potential move towards its all-time highs. He emphasized the importance of the entire ecosystem moving in tandem, including assets like Dogecoin and Sui, for sustained market growth.

Sources