Scott Melker, a cryptocurrency analyst and advocate has pointed out a massive inflow into Bitcoin following the approval of BTC Spot Exchange-Traded Fund (ETF).
Bitcoin Might Be Poised For $570 Million Inflow
The crypto analyst shared his projections with the entire cryptocurrency community on the social media platform X (formerly Twitter). Melker proposed that $570 billion could be invested in a Bitcoin ETF, representing just 0.5% of the overall assets managed by Registered Investment Advisors (RIAs).
In the X post, Melker pointed out that the overall assets managed by RIAs are currently valued at $114 trillion. He also highlighted that the total market capitalization of Bitcoin is currently pegged at $860 billion.
The post read:
RIAs manage $114 TRILLION in assets. If a measly half of a percent of that money eventually comes into a #Bitcoin ETF, that would be roughly 570 billion dollars. The entire market cap of $BTC now is $860 BILLION.
Several crypto analyst seems to disagree with
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