VanEck Advisors: We overestimated the short-term impact of Bitcoin ETFs and underestimated the long-term momentum
The approval of a spot BTC ETF could unlock trillions of dollars in value.Source: Bitcoinist
Compiled by: Blockchain Knight
Recently, Gabor Gurbacs, an advisor at Tether and the renowned investment management firm VanEck, shared his views, holding a long-term bullish stance on the potential impact of a spot BTC ETF launch in the United States.
This perspective particularly counters the common tendency to view the impact of a spot BTC ETF as only short-term rather than long-term. Gurbacs pointed out, "People tend to be enthusiastic about current events but remain shortsighted about the bigger picture."
Gurbacs emphasized that while the launch of a spot BTC ETF is often surrounded by short-term speculation, its true value lies in its long-term impact.
He also stated that the initial launch of a spot BTC ETF could lead to a net inflow of $100 million, primarily from reinvestment funds by institutional investors.
He posted on social platform X, saying, "In my view, people often overestimate the initial impact of a U.S. BTC ETF. I think there could be several inflows of $100 million (mainly from recycled funds)."
"Over the long term, people often underestimate the impact of a spot BTC ETF. If history is any guide, gold is worth studying."
Gurbacs's insights further point to an article uploaded earlier last month, which delved into the deeper implications of the approval of a U.S. spot BTC ETF.
Gurbacs draws parallels between the historical financial market trends of gold and the potential for the approval of a spot BTC ETF to unlock trillions of dollars in value over time.
Gurbacs's analogy between the gold market and BTC provides a compelling narrative, such as the significant increase in gold value following the launch of the first gold ETF by State Street in November 2004.
This event marked a significant turning point, with gold prices soaring from $400 to $1,800 over eight years, and its market capitalization growing from $2 trillion to $10 trillion, a fivefold increase.
These historical evidences support Gurbacs's belief that BTC could follow a similar trajectory to gold after the launch of an ETF.
Gurbacs further analyzes that the approval of a U.S. spot BTC ETF will follow the "blueprint of gold in 2004," potentially triggering a similar exponential rise in BTC value.
Gurbacs envisions that BTC will carve out a place in the global financial ecosystem, transcending short-term speculation to establish long-term value.
In addition to his optimism about BTC ETFs, Gurbacs has recently expressed a positive outlook on the future of stablecoins. He predicts that these digital assets will become the next significant force in financial markets, potentially evolving into a market worth trillions of dollars.
He stated on X, "Investment packaging has evolved from stocks, hedge funds, and mutual funds to ETFs, each creating trillions of dollars in markets. What's next? I believe it's stablecoins." Here are several attributes that highlight why stablecoins have the potential to create the next trillion-dollar market:
Gurbacs believes that stablecoins possess unique characteristics that set them apart from traditional financial instruments such as stocks, hedge funds, mutual funds, and exchange-traded funds. These characteristics include low fees, ease of access, and commercial practicality, making stablecoins not just a digital asset but a key player in the future of global finance.
