Blackrock’s Bitcoin ETF Could Outshine S&P 500-Tracking SPY To Become Top Investment Vehicle But It Will Take A ‘Long’ Time, Says Prominent Analyst

Leading Bloomberg analyst Eric Balchunas said Monday that Blackrock’s iShares Bitcoin Trust ETF (NASDAQ:IBIT) could surpass SPDR S&P 500 ETF Trust (NYSE:SPY) to become the world’s top exchange-traded fund, but the process could take a long time.

What Happened: Balchunas, who has over a decade of expertise analyzing ETFs, responded to Bitcoin (CRYPTO: BTC) advocate Fred Krueger’s prediction that the largest Bitcoin-based fund would become the most dominant investment vehicle in five years.

“I mean, it’s not out of the question. And it’s clearly dumb to underestimate BTC ETFs but.. will take a long time given how linked stocks and BTC price is,” Balchunas said.

Full story available on Benzinga.com