Crypto Market Value Predicted To Increase In The Next Five Years

JAKARTA - Recent research from Bernstein Research reveals that currently Bitcoin funds and crypto assets have a value of around 50 billion US dollars (around Rp. 722 trillion).

Not only that, analysts under the leadership of Gautam Chhugani predict that the crypto fund management industry could soar to 500-650 billion US dollars (around Rp. 7,220 to Rp. 9,386 trillion) in the next five years.

Although currently the industry is still considered a "home industry," analysts are optimistic that it will undergo a transformation into a strictly regulated asset management industry. One of the reasons for this optimism is the belief that regulatory challenges will decrease.

The Bernstein team believes that most of the required regulations have been in place, and the SEC (US Securities and Exchange Commission) decision regarding the exchange-traded Bitcoin ETF in early 2024 will provide further clarity.

Analysts under Chhugani's leadership believe that the SEC will find a solution that would allow approval of the spot's Bitcoin ETF, reducing the possibility of rejection. In addition, opportunities in the world of stablecoins are also considered a driving force for growth, especially when switching from an unregulated environment to an regulated system, especially for "main-current payments."

In 2023, several large companies such as Blackrock, Franklin Templeton, and Fidelity have applied for the spot Bitcoin ETF. Meanwhile, companies such as Coinshares and Nomura have launched their own crypto products and services to attract institutional investors.

This condition gives rise to optimism that the crypto fund management industry will continue to grow and achieve significant value in the coming years.