Is Bitcoin in a bull run?

The approval of a Bitcoin ETF in the United States was an important step in the acceptance of Bitcoin and increasing its attractiveness to investors, the Motley Fool says. ETFs allow retail investors and large companies to purchase Bitcoin by bypassing crypto exchanges and wallets, making cryptocurrency more accessible to them. Motley Fool analysts noted that more and more pension funds and hedge funds, which manage multibillion-dollar sums, are entering the Bitcoin market. Thanks to cryptocurrency ETFs, they can seamlessly include Bitcoin in their investment portfolios. About 700 investment companies have invested about $5 billion in cryptocurrency ETFs. Among the leading investors was Millennium Management, which allocated 3% of its portfolio (about $64 billion) to Bitcoin-linked ETFs. Financial corporations Morgan Stanley and Bracebridge Capital are also considered important participants in spot Bitcoin ETFs. In May, the State of Wisconsin Investment Board (SWIB) invested approximately $164 million in cryptocurrency funds from BlackRock and Grayscale Bitcoin Trust. However, institutional investors account for only about 10% of the total number of Bitcoin ETF owners. Large companies must conduct careful due diligence and strategic planning before investing in new cryptocurrency products to diversify their investment portfolio, notes Motley Fool. Even relatively small investments in Bitcoin from institutions can have a big impact on the cryptocurrency. According to Motley Fool estimates, if financial institutions invest at least 5% of their $129 trillion in assets in Bitcoin, the market capitalization of the first cryptocurrency could exceed $7 trillion. This explains the price forecast of $400,000. Last week, the US Securities and Exchange Commission (SEC) approved spot exchange-traded funds (ETFs) for ether. The CEO of the investment company BKCM, Brian Kelly, is confident that the emergence of ETFs tied to altcoins will create a “snowball” effect, and the next exchange-traded fund will be associated with the Solana cryptocurrency.