Michael Saylor: "BlackRock Bitcoin ETF to Become World's Largest ETF in 10 Years"

Minseung Kang

Summary

Michael Saylor, CEO of MicroStrategy, predicted that BlackRock's Bitcoin spot ETF, IBIT, will grow to become the world's largest ETF within the next 10 years.
It was reported that IBIT's current market capitalization is $54 billion, still small compared to VOO's more than 10 times larger $593.5 billion.
It was added that the open interest in Bitcoin futures is increasing and investors' risk appetite is rising.

Michael Saylor, CEO of MicroStrategy, predicted a long-term bullish outlook for BlackRock's Bitcoin (BTC) spot ETF, IBIT.

According to cryptocurrency media outlet CoinDesk on the 25th, CEO Saylor participated in the New York Digital Asset Summit and stated, "IBIT will become the world's largest ETF within the next 10 years."

Currently, IBIT's market capitalization is around $54 billion, with a trading volume of approximately $1.5 billion recorded the previous day. Meanwhile, the world's largest ETF, Vanguard S&P 500 ETF (VOO), has a market capitalization of about $593.5 billion, more than 10 times that of IBIT.

The media added, "Recently, with the increase in open interest in Bitcoin futures, investors' risk appetite is reviving," but also noted, "The industry sees the possibility that some of the recent inflows may be part of an arbitrage strategy rather than directional investment."

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