ETF expert Nate Geraci anticipates a groundbreaking year for Bitcoin ETFs in 2024. The analyst predicts a significant shift in the ETF landscape, particularly focusing on Bitcoin and BlackRock’s performance against Vanguard.
The surge of Bitcoin ETFs
Geraci’s boldest prediction for 2024 revolves around Bitcoin ETFs. He forecasts that, when considered collectively, spot Bitcoin ETFs will surpass all previous ETF launch records.
This optimism contrasts with the skepticism of some financial advisors and the cautious approach of wealth management platforms towards these products. Geraci’s confidence stems from the belief in pent-up demand for spot Bitcoin ETFs.
He argues that significant asset managers, such as BlackRock, Fidelity, and Invesco, are not in the business of chasing minor opportunities.
These firms, he suggests, have done extensive groundwork to ensure the success of these ETFs, which he believes will lead to a rewriting of the ETF record books. This prediction comes despite no clear consensus on the future price movement of Bitcoin itself.
Other key predictions for 2024
Beyond Bitcoin ETFs, Geraci also forecasts a change in the ETF leadership with BlackRock gaining market share over Vanguard.
He notes that BlackRock’s diverse product suite and active management focus, along with its involvement in the spot Bitcoin ETF market, will play critical roles in this shift.
Furthermore, Geraci predicts the approval of a multi-share class structure by the SEC, which he believes could significantly impact ETF industry growth.
Finally, he anticipates a downturn in the popularity of covered call ETFs, predicting outflows from these funds, especially if the stock market continues its upward trajectory.