According to a senior product director at Moody's Analytics, the anticipation of the launch of spot bitcoin exchange-traded funds (ETFs) has led to a recent surge in bitcoin prices.
He emphasized that large asset management firms are preparing to invest in bitcoin in order to offer these ETFs to retail and institutional investors.
This suggests that these financial firms see potential in the cryptocurrency market and are looking to take advantage of its growth.
Federal Reserve policy shifts spur Bitcoin investment optimism.