Bitcoin SV [BSV] surges by 9.23% over the day as Binance Coin [BNB] slips

With a week left to go for the Bitcoin [BTC] ETF to be tabled before the US Securities and Exchange Commission [SEC] once again, several analysts are throwing their hat into the prediction ring. Many analysts have in fact predicted that institutions will lead the charge and buoy the market.

Thomas Lee, Head of Research at Fundstrat Global, is of this opinion. In a recent tweet, Lee predicted that a majority of the volume that the ETF will bring in will be institutional investors, including hedge funds. He added that despite what the market suggests, the ETF “is not necessarily a retail product.”

A publicly traded Bitcoin product such as an ETF will spur a new channel for BTC investments. Hence, Lee suggests that this would be “a big deal” for the collective market. The researcher added that on the retail front, this would “simplify key management.”

His tweet, in full, read,

“I believe >50% of ETF volume is institutional investors (HF, etc) so it is not necessarily a retail product. And similarly, a bitcoin ETF would be a big deal. Especially since it does simplify key management for a retail investor”

Lee’s tweet was in response to Bloomberg’s Joe Weisenthal questioning the motives of the Bitcoin ETF. Weisenthal suggested that the ETF will simply ease the process of buying Bitcoin. Hence, the ETF will serve the same purpose as a Microsoft Corporation [MSFT] ETF, he argued.

Institutional investors have been riding high on Bitcoin’s recent successes, with CME futures experiencing massive growth and Grayscale’s #DropGold campaign in full swing. Further, a recent piece of research by Binance pegged Bitcoin to be the most successful asset in 2019.

Despite the community anticipating the SEC’s decision on May 16, many suspect another delay, rather than a clear-cut yes-or-no decision. The final deadline for the two ETF proposals before the SEC are October 13 and October 18.

Interestingly, to answer Weisenthal’s concerns about…

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