ETF expert Nate Geraci anticipates a breakthrough year for Bitcoin ETFs in 2024. The analyst predict a significant shift in the ETF landscape, particularly focusing on the performance of Bitcoin and BlackRock vs. Vanguard.
ETF expert Nate Geraci anticipates a breakthrough year for Bitcoin ETFs in 2024. The analyst predict a significant shift in the ETF landscape, particularly focusing on the performance of Bitcoin and BlackRock vs. Vanguard.
The rise of Bitcoin ETFs
Geraci’s boldest prediction for 2024 revolves around Bitcoin ETFs. It predicts that, when considered collectively, Bitcoin spot ETFs will surpass all previous ETF launch records.
This optimism contrasts with the skepticism of some financial advisors and the cautious approach of wealth management platforms towards these products. Geraci’s confidence stems from a belief in pent-up demand for spot Bitcoin ETFs.
He maintains that major asset managers, such as BlackRock, Fidelity and Invesco, are not in the business of chasing smaller opportunities.
He suggests that these companies have done extensive legwork to ensure the success of these ETFs, which he believes will lead to a rewriting of the ETF record books. This prediction comes despite there being no clear consensus on the future price movement of Bitcoin itself.
Other key predictions for 2024
Beyond Bitcoin ETFs, Geraci also predicts a change in ETF leadership with BlackRock gaining market share over Vanguard.
He notes that BlackRock’s diverse product set and active management approach, along with its participation in the Bitcoin ETF spot market, will play a critical role in this shift.
Additionally, Geraci predicts the approval of a multiple share class structure by the SEC, which he believes could significantly impact the growth of the ETF industry.
Finally, he anticipates a decline in the popularity of covered call ETFs, predicting outflows from these funds, especially if the stock market continues its upward trajectory.