Published on 24 Dec 2024 on Benzinga
Leading Bloomberg analyst Eric Balchunas said Monday that Blackrock’s iShares Bitcoin Trust ETF IBIT could surpass SPDR S&P 500 ETF Trust SPY to become the world’s top exchange-traded fund, but the process could take a long time.
What Happened: Balchunas, who has over a decade of expertise analyzing ETFs, responded to Bitcoin BTC/USD advocate Fred Krueger’s prediction that the largest Bitcoin-based fund would become the most dominant investment vehicle in five years.