Mark Yusko, CEO of Morgan Creek Capital, foresees a surge of funds entering the crypto market as baby boomers, who possess trillions of dollars in wealth, seek to invest in digital assets.
During an interview on The Wolf Of All Streets podcast, Yusko highlighted the impact of Bitcoin (BTC) exchange-traded funds (ETFs) and the growing interest from registered investment advisers, which have shifted the demand significantly. However, the full extent of this impact is yet to be fully realized. According to Yusko:
“The capital flows are likely to come from baby boomers, who were born between 1946 and 1964, through retirement accounts managed by advisers. In 2022, U.S. financial advisers managed $114.1 trillion in assets, according to the Investment Adviser Association.”
Yusko stated, “We’re currently a few months into the ETFs, and we’ve only received around 10% of the potential influx from registered investment advisers who control the baby boomers’ funds.” He believes that this influx could potentially push the crypto market’s capitalization to $6 trillion.
Regarding the anticipated increase in acceptance of cryptocurrencies among Americans, Yusko commented, “I’ve been saying that this will be the best Thanksgiving ever. No longer will crypto enthusiasts be unwelcome in family gatherings.”
Spot Bitcoin ETFs were approved by the United States Securities and Exchange Commission in January, a decade after the initial application by the Winklevoss twins. Leading financial institutions such as BlackRock, Fidelity, and VanEck were among the first to receive approvals. According to BitMEX Research data, as of April 24, Bitcoin ETFs were valued at over $53 billion combined.
Source: The Wolf Of All Streets
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