Bitcoin\u2019s (BTC<\/a>) price will increase 74.1% in the first year after spot Bitcoin exchange-traded funds (ETFs) are launched in the United States, according to estimates from crypto investment firm Galaxy Digital.<\/p>\n In an Oct. 24 blog post<\/a>, Galaxy\u00a0Digital research associate Charles Yu estimated the total addressable market size for Bitcoin ETFs would be $14.4 trillion in the first year after launch. He obtained the 74% figure by assessing the potential price impact of fund inflows to Bitcoin ETF products using gold ETFs as a baseline.<\/p>\n According to Yu\u2019s estimates, Bitcoin\u2019s price would increase 6.2% in the first month after an ETF launch before steadily trending downward to a 3.7% monthly increase by month 12.<\/p>\n Yu used Bitcoin price data from Sept. 30, but a 74.1% increase in Bitcoin\u2019s current price would see it hit $59,200<\/a>.<\/p>\n Markus Thielen, head of research at digital asset financial services firm Matrixport reached a similar figure in an Oct. 19 post<\/a>, estimating Bitcoin could rise to between $42,000 and $56,000 if BlackRock\u2019s spot Bitcoin ETF application is approved.<\/p>\n Yu predicts the U.S. Bitcoin ETFs\u2019 addressable market size<\/a> to reach $26.5 trillion in the second year after launch and $39.6 trillion after the third year.<\/p>\n Related: <\/em><\/strong>BlackRock\u2019s Bitcoin ETF: How it works, its benefits and opportunities <\/em><\/strong><\/a><\/p>\n Yu acknowledged a delay or denial of spot Bitcoin ETFs would impact its price prediction.<\/p>\n However, he said the estimates were still conservative and didn\u2019t factor in \u201csecond-order effects\u201d from a spot Bitcoin ETF approval.<\/a><\/p>\n \u201cIn the near-term, we expect other global\/international markets to follow the U.S. in approving + offering similar Bitcoin ETF offerings to a wider population of investors,\u201d Yu wrote.<\/p>\n He added \u201c2024 could be a big year for Bitcoin\u201d citing ETF inflows, the April 2024 Bitcoin halving and \u201cthe possibility that rates have peaked or will peak in the near term.\u201d<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-10\/d172c08e-6630-4e30-98cc-ee0688cdc4af.png\")