"Wow, this is considered good news for the crypto market, right?"
Mark Yusko, CEO of Morgan Creek Capital predicts that the cryptocurrency market will see massive inflows due to trillions of dollars in wealth by “baby boomers”* who may seek entry into digital assets.
*One of the people will not only be the richest but will also acquire the largest share of the crypto market
During his interview with The Wolf Of All Streets podcast, Yusko discussed how the introduction of the BTC ETF and increased interest from registered investment advisors has led to a significant change in demand.
Yusko also thinks the flow of capital that may come from baby boomers will be born between 1946 and 1964, where the Investment Advisers Association says United States (US) financial advisers will have managed $114.1 trillion in assets in 2022.
Morgan Creek Capital, which is three months into the ETF, has acquired 10% of the registered investment adviser that controls all the baby boomer cash, Yusko said, adding that the entry could push the crypto market capitalization to $6 trillion.
It is well known that the spot BTC ETF was approved by the Securities and Exchange Commission (SEC) of the United States (US) in January 2024, which is 10 years immediately after the first application of the Winklevoss twins.
Wall Street giants BlackRock, Fidelity and VanEck are among the firms leading the first group approved by the SEC for ETF applications and it should be noted that the BTC ETF as of April 24, 2024 has been valued at over $53 billion.
Mark Yusko, CEO of Morgan Creek Capital predicts the cryptocurrency market will see massive inflows due to trillions of dollars in wealth by baby boomers who may be looking for entry into digital assets.
