Famous economist Alex Krüger expressed his belief that the full potential impact of the recently approved spot exchange-traded funds (ETFs) in the US has not yet been felt on Bitcoin (BTC). In a recent interview on the 1000x Podcast, Krüger provided detailed information about the inner workings of ETF products and argued that the current bull market for Bitcoin is still in its initial stages, emphasizing that the institutional sales machines are not yet fully operational.
“Institutional Sales Machines Not Fully Operational Yet”
Krüger emphasized that the institutional sales machines associated with ETFs are not yet fully utilized, estimating that they are currently only about 20 percent active. He detailed the participation of various stakeholders, including individual and institutional investors as well as asset advisors, explaining the mechanics of ETFs.
According to the economist, asset advisors play a crucial role in introducing ETFs to investors, but they generally look for a track record and approval before actively supporting clients. He summarized different categories of asset advisors, including brokerage firms like Merrill Lynch and UBS, as well as both independent and non-independent registered investment advisors (RIAs).
Highlighting recent developments, Krüger noted that institutions like Merrill Lynch and UBS have announced plans to offer ETFs to their clients, indicating the beginning of broader corporate adoption. However, he added that the process is still in its early stages and the full potential has not yet emerged.
New Peaks Await
The views presented by Krüger emphasize the gradual integration of spot Bitcoin ETFs into traditional financial infrastructure and the expectation of accelerated corporate adoption in the coming months. Despite a modest 2 percent increase in Bitcoin’s value over the last 24 hours, leading to a current trading price of $68,245, Krüger claims that the full effect of ETFs on the cryptocurrency market has yet to be felt.
As institutions embrace Bitcoin ETFs more and step up their promotional efforts, Krüger predicts a significant strengthening in the ongoing bull market, which will push BTC‘s price and market value to new heights.
