Bernstein: Bitcoin and Crypto-Related Stocks Are Ripe for Institutional Adoption

Odaily News Bitcoin and cryptocurrency-related stocks are undervalued and ripe for institutional adoption, brokerage firm Bernstein said in a research note on Wednesday. Bernstein noted that crypto bears believe that spot Bitcoin exchange-traded fund (ETF) trading is over, with most of the early allocations coming from retail investors and most institutional demand being "underlying cash and carry trades" rather than new net long positions. While this is true, we believe a Bitcoin ETF will be approved by major securities firms and large private banking platforms in Q3/Q4. "Spot Bitcoin ETFs were first approved in the U.S. in January, greatly broadening the channels for people to invest in the world's largest cryptocurrency.