Summary
Jeff Kendrick, head of crypto research at Standard Chartered, believes that pensioner funds will show interest in spot Bitcoin exchange-traded funds (ETFs) following the recent approval by the SEC. He is also optimistic about the potential approval of a spot Ethereum ETF in May. Kendrick suggests that the approval of these ETFs could attract significant investment from the 401k retirement plans in the US, which have a total value of $7.26 trillion. This could provide a major boost to Bitcoin and Ethereum. Kendrick has previously expressed optimism about the approval of an Ethereum ETF and predicted that the price of Ethereum would reach $4,000 before the approval date.
Key Points
1. Jeff Kendrick, head of crypto research at Standard Chartered, is optimistic about pensioner fund interest in spot Bitcoin exchange-traded funds (ETF) following the SEC’s approval. He believes that the approval of Bitcoin ETFs will attract an influx of pensioner funds, potentially giving a major boost to the top cryptocurrency.
2. Kendrick also expresses optimism for Ethereum, suggesting that it will likely go through a similar approval process for its own ETF as Bitcoin did. He expects the spot Ethereum ETF to be approved in May, which could further attract pensioner funds and contribute to the growth and adoption of Ethereum.
3. The value of assets in 401k retirement plans in the US reached 7.26 trillion in Q2 2021, according to Statista data. Kendrick points to this significant amount of assets in pension funds as a potential source of investment in Bitcoin and other crypto assets once the ETFs are approved. This highlights the potential impact of pensioner funds on the cryptocurrency market.