Goldman Sachs: Crypto Adoption and Regulation to Mature by 2024 as Bitcoin ETFs Gain Traction
• Goldman Sachs predicts institutional adoption and regulation of crypto will mature digital assets by 2024 as businesses scale blockchain solutions.
• The bank expects a Bitcoin ETF approval in 2023 will invite investments from pensions and insurers, improving Bitcoin liquidity.
• Tokenization of traditional assets will occur ahead of more exotic assets, benefiting illiquid markets the most.
• The SEC has until January 2024 to approve ARK Invest's Bitcoin ETF application and analysts expect approval to ensure fair competition.
• Goldman Sachs believes Bitcoin ETFs may grow slowly at first before gaining traction later in 2024 as authorized participants are added.