<\/p>\n
US-based crypto exchange Coinbase says Q2 of 2024 will likely be a bullish period for Bitcoin (<\/span>BTC<\/span><\/a>) and the broader digital asset market.\u00a0<\/span><\/p>\n In a new LinkedIn post, Coinbase head of institutional research David Duong <\/span>says<\/span><\/a> that the previously identified headwinds for crypto are now in the rearview mirror.<\/span><\/p>\n \u201cLooking ahead, the setup for 2Q24 appears more conducive for crypto performance, in our view. That said, we think those positive factors may only manifest themselves more clearly starting in the second half of April.\u201d<\/span><\/i><\/p>\n Duong says that aside from the upcoming halving event that will slash BTC miners\u2019 rewards in half, another catalyst that could send the prices of BTC higher is the entry of large institutions.\u00a0<\/span><\/p>\n According to the Coinbase executive, institutions typically evaluate new financial products such as the spot Bitcoin exchange-traded funds (ETFs) for three months before offering them to clients.\u00a0\u00a0<\/span><\/p>\n \u201c[On] the demand side, the 90-day review period that many wirehouses employ when conducting due diligence on new financial offerings \u2013 like spot Bitcoin ETFs \u2013 could conclude as early as April 10th. That is, it\u2019s customary for large broker-dealers to undertake rigorous 360-degree evaluations before permitting wealth advisors to allocate client assets.<\/span><\/em><\/p>\n Their assessments thoroughly examine (1) whether such products satisfy investment minimums and liquidity thresholds as well as (2) whether the requisite daily trading, custodial and regulatory reporting activities impose any insurmountable operational challenges to their existing infrastructure.\u201d<\/span><\/em><\/p>\n Duong says financial titans Morgan Stanley (MS), Bank of America (BofA), UBS Group AG and Goldman Sachs (GS) may start offering Bitcoin ETFs to clients after the 90-day review period. He also says that wirehouses based outside the United States may follow suit.\u00a0<\/span><\/p>\n \u201cThat said, wirehouses like MS, BofA, UBS and GS are not the only gatekeepers of wealth here. Some major wealth management platforms operating in the US exist outside of these large financial conglomerates. <\/em><\/p>\n While three months is the typical (and stated) observation period for money managers like LPL Financial, some have shorter and longer windows as well. We think this could yet unlock significant capital for US-based spot bitcoin ETFs over the medium term.\u201d\u00a0<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Featured Image: Shutterstock\/RealmDrifter\/Chuenmanuse<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" US-based crypto exchange Coinbase says Q2 of 2024 will likely be a bullish period for Bitcoin (BTC) and the broader digital asset market.\u00a0 In a new LinkedIn post, Coinbase head of institutional research David Duong says that the previously identified headwinds for crypto are now in the rearview mirror. \u201cLooking ahead, the setup for 2Q24 […]<\/p>\n","protected":false},"author":2,"featured_media":55243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-275005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=275005"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275005\/revisions"}],"predecessor-version":[{"id":275007,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275005\/revisions\/275007"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/55243"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=275005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=275005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=275005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n