Matrixport’s research team has observed a significant increase in U.S. money market fund deposits, doubling since the outbreak of Covid-19. This growth, they believe, bodes well for the continued expansion of the crypto asset market. Analysts anticipate that bitcoin will maintain its upward trajectory, regardless of whether a spot exchange-traded fund (ETF) is approved, citing multiple factors driving its sustained demand.
Report Envisions Crypto Gains Even Without Spot Bitcoin ETF Green Light
In a mid-October analysis, Matrixport’s crypto financial services experts projected that bitcoin’s value could range between $42,000 and $56,000 per unit, should the U.S. Securities and Exchange Commission endorse a spot bitcoin ETF. However, a more recent report, led by Matrixport’s Head of Research Markus Thielen, suggests that bitcoin (BTC), along with the broader crypto market, is poised for growth even without ETF approval.
The report states, “Even if the SEC still disapproves of b
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