{"id":212030,"date":"2023-12-13T21:46:02","date_gmt":"2023-12-13T16:16:02","guid":{"rendered":"https:\/\/dripp.zone\/news\/goldman-exec-sees-trading-volume-boost-crypto-news\/"},"modified":"2023-12-13T21:46:04","modified_gmt":"2023-12-13T16:16:04","slug":"goldman-exec-sees-trading-volume-boost-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/goldman-exec-sees-trading-volume-boost-crypto-news\/","title":{"rendered":"Goldman exec sees trading volume boost – Crypto News"},"content":{"rendered":"

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Goldman Sachs Group Inc\u2019s digital asset executive, Matthew McDermott has revealed <\/a><\/span>that he expects to see a significant upshot in trading volume should the much-anticipated spot Bitcoin ETF product be approved.<\/span><\/p>\n

Valid Thesis on Market Reactions<\/strong><\/h2>\n

McDermott\u2019s optimism about the reaction of the market to any potential regulatory greenlight for a Bitcoin ETF is not immediate. Rather, he expects the traction to start building up from this moment until about two years from now.\u00a0<\/span><\/p>\n

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The Goldman Sachs executive is optimistic that Wall Street\u2019s interest in crypto derivatives products will also increase soon but contingent upon spot BTC ETF approval.<\/span><\/p>\n

The digital currency ecosystem has been a very intriguing terrain for mainstream financial services firms in recent times. While Bitcoin\u2019s astounding 150% growth Year-to-Date (YTD) growth is the talk of most asset managers considering how other mainstream assets have relatively underperformed.<\/span><\/p>\n

However, McDermott said his core interests in the Web3.0 world extends beyond just cryptocurrencies and the hype they come with to tokenization of real world assets like bonds using Blockchain technology.<\/span><\/p>\n

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According to him, the interest in anything digital assets has seen a \u201chuge appetite\u201din recent times, a trend he said has \u201cgrown significantly\u201d from this time last year.<\/span><\/p>\n

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\u201cProbably within the next one to two years you\u2019ll see a big significant uptick in the quantum trading on-chain, probably three to five years to really see these marketplaces at scale,\u201d McDermott said.<\/span><\/p>\n

Bitcoin ETF Interest is Genuine<\/strong><\/h2>\n

There have been a large number of predictions about the yet to be approved Bitcoin ETF product. With more market leaders optimistic about the potentials of an ETF approval by mid-January to sometime in March, Wall Street expects an inflow of at least $100 billion into the market with VanEck projecting <\/a><\/span>a conservative $2.4 billion in the first quarter of next year.<\/span><\/p>\n

Overall, the Bitcoin spot ETF is deemed the right channel for institutional investors to enter into the digital currency ecosystem and invest in Bitcoin without the many risks associated with entering the market as a solo investor.<\/span><\/p>\n

The presence of firms like BlackRock<\/a><\/span>, Fidelity Investments and Franklin Templeton has added to the confidence that the approval of the Bitcoin ETF is not a matter of if, but of when.<\/span><\/p>\n

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