Goldman Sachs Group Inc’s digital asset executive, Matthew McDermott has revealed that he expects to see a significant upshot in trading volume should the much-anticipated spot Bitcoin ETF product be approved.
Valid Thesis on Market Reactions
McDermott’s 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.
The Goldman Sachs executive is optimistic that Wall Street’s interest in crypto derivatives products will also increase soon but contingent upon spot BTC ETF approval.
The digital currency ecosystem has been a very intriguing terrain for mainstream financial services firms in recent times. While Bitcoin’s astounding 150% growth Year-to-Date (YTD) growth is the talk of most asset managers considering how other mainstream assets have relatively underperformed.
However, McDermott said his core interests in the Web
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