The setup for the next bitcoin bull run has become even more clear after last week's landmark ruling in Grayscale's suit against the SEC.
The setup for the next bitcoin bull run has become even clearer wiafter last week's landmark ruling in Grayscale's suit against the Securities and Exchange Commission delivered what Bernstein calls a "game changer" for asset managers. This time, however, it will be led by institutions rather than retail investors, which helps explain why crypto prices remain stagnant despite having several positive catalysts in recent weeks.
"The lack of follow through in the market should not be interpreted as lack of progress towards a new capitalization cycle." Investors remain optimistic about the recent developments and what they could mean for the crypto market over the long term, however. The ruling is just one step forward, but could open the door to the approval of the first bitcoin ETF in the U.S., ushering in a wave of new demand for the digital asset.
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