Bernstein: $100 Billion to Flow into Crypto ETFs Within Two Years, ETH Paves the Way for Other Blockchain Tokens

According to a report by CoinDesk, research firm Bernstein believes that over $100 billion will flow into cryptocurrency-related ETFs in the next two years. The approval of an Ethereum spot ETF in the United States paves the way for other blockchain tokens, with Solana (SOL) potentially benefiting.

Bernstein Reiterates Bitcoin Price Target of $150,000

Bernstein has maintained an optimistic view on Bitcoin, with previous reports indicating that the entry of spot Bitcoin ETFs and major brokerage firms will continue to provide structural demand for Bitcoin. Bernstein has always believed that Bitcoin will reach a peak of $150,000 in 2025, with a target price of $90,000 by the end of 2024.

According to Bernstein's cryptocurrency price predictions, the Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) market is expected to grow to $450 billion. This suggests that over $100 billion will flow into crypto ETFs in the next two years.

ETH Paves the Way for Other Blockchain Tokens

Bernstein also mentioned that the U.S. Securities and Exchange Commission (SEC) approved eight Ethereum spot ETFs last week. Once the S1 applications are approved, Ethereum ETF trading will go live on exchanges. Bernstein noted:

Ether is the first token based on Proof of Stake (PoS) to be approved as a spot ETF, paving the way for blockchain assets to evolve from token sales.

Bernstein believes that since Ether has been classified as a commodity rather than a security, the biggest controversy surrounding cryptocurrencies has been resolved. This has a positive impact on other blockchain tokens, as they may follow the same precedent, with Solana (SOL) potentially benefiting.

After the approval of the Ethereum spot ETF, many institutions are optimistic that Solana could be the next beneficiary, with Kryptanium Capital founder Daniel Yan recommending to "buy SOL/ETH."

Daniel Yan: SOL/ETH is the Best Target if Ethereum ETF is Approved

However, some, like JPMorgan, are skeptical about the SEC approving Solana and other cryptocurrency exchange-traded funds (ETFs).

JPMorgan Expresses Doubt on SEC Approving Solana and Other Cryptocurrency ETFs in the U.S.