Forbes reports a giant $15 trillion earthquake is coming to the cryptocurrency world. This is all due to BlackRock’s interest in the Bitcoin ETF, which potentially has the right to affect demand for XRP as well.
Forbes sees huge opportunities for crypto market
In a recent report by Forbes magazine, it was alarmingly reported that there is a remarkable seismic shift approaching the cryptocurrency market, particularly XRP. In the article “New Wave – Major Bank Reveals $15 Trillion Earthquake,” we uncover a colossal event that could cause shocks for Bitcoin, Ethereum and XRP.
The first warning signal came in the middle of the month, when BlackRock, the world’s largest asset management firm, announced its intentions to become more deeply involved in the world of cryptocurrencies, filing to create an exchange-traded Bitcoin ETF.
The actions of BlackRock, an institution with $10 trillion in assets, signal a huge demand for Bitcoin exposure from their high-profile clients. Of course, this could cause a domino effect that would lead to increased interest in various coins.
XRP is of particular interest
In addition, Forbes makes a case for a potential storm in the cryptocurrency market following sensational revelations from Laser Digital, a subsidiary of banking giant Nomura in the digital asset field. A recent survey of professional investors managing a massive $5 trillion revealed overwhelming interest in investing in cryptocurrencies such as XRP.
Specifically, 96% of these financial experts expressed keen interest in entering the cryptocurrency space, due to its potential to diversify portfolios and revolutionize the investment management field.
As many as 82% of respondents expressed an optimistic outlook for Bitcoin, Ethereum and XRP, and 88% confirmed that they or their clients are actively considering investing in cryptocurrencies.
Opinions are divided
While BlackRock’s actions could pave the way for a wave of institutional investment products focused on the cryptocurrency market, some experts point out that even a 0.3% BlackRock fund allocation could meet all the demand for Bitcoin and XRP on exchanges.
However, skepticism about the potential impact of BlackRock’s proposed Bitcoin ETF on the market persists. Simon Peters, a market analyst with the eToro exchange, expressed his doubts.
“The potential of the Bitcoin Spot ETF to influence the market is not clear and depends on demand.” – he noted.