Bloomberg's Eric Balchunas: Still Bullish on Bitcoin ETF, Analyzing Future Major Catalysts

Bloomberg ETF analyst Eric Balchunas said that full-service brokerage firms (wirehouses) and more Bitcoin-based ETF products will be key catalysts this year. Coupled with the Bitcoin halving effect, he is very optimistic about the performance of Bitcoin ETFs in the coming months.

Bitcoin ETFs to Open on More Platforms

According to a report by The Block, Bloomberg ETF analyst Eric Balchunas believes that in the coming months, Bitcoin ETFs may be introduced on major broker-dealer wirehouse platforms that manage $7 trillion to $10 trillion in assets, providing more exposure to Bitcoin ETFs for a wider audience. Balchunas stated:

It's like putting a product on the shelves of a big supermarket. This exposure and availability can only help the Bitcoin ETF!

He also mentioned that apart from major broker-dealer firms, other large investment platforms like Raymond James and LPL may help expand the reach of ETFs, with many smaller platforms likely to follow suit.

Creating More Products Based on Bitcoin ETFs

Balchunas mentioned that the second catalyst would be the launch of Bitcoin ETF options trading, estimating that ETF-based options will be listed in September.

In addition to options, financial institutions may also develop structured products around ETFs, such as

• Leveraged ETFs: e.g., 2X Bitcoin spot ETF
• Long/Short strategies: e.g., long Bitcoin/short gold strategy

He believes that financial institutions will experiment and design successful products, all relying on the Bitcoin ecosystem. It is certain that there will be various structures and packaged trades developed around the ten core Bitcoin ETFs we see today.

Balchunas believes these two significant catalysts still exist, not to mention that the halving may lead to an increase in Bitcoin prices.

In fact, they have done well without solicitation, major platforms, or options; it's a small miracle.