21Shares Executive: Bitcoin Could Reach $100,000 This Year as Institutions Accelerate Entry

Odaily Planet Daily News: Adrian Fritz, Chief Investment Officer at 21Shares, stated that the continuous capital inflows into spot Bitcoin ETFs are strengthening Bitcoin's core position in institutional asset allocation, even as the price continues to fluctuate below the $80,000 mark. Adrian Fritz pointed out that since the beginning of this year, Bitcoin ETFs have absorbed nearly $2 billion in funds, with sources including retail investors, institutions, and arbitrage and options strategy trading by hedge funds. As traditional asset management institutions like Morgan Stanley accelerate their deployment, crypto assets are being more broadly incorporated into multi-asset portfolio allocations. With Bitcoin's current daily trading volume exceeding $50 billion, its liquidity level is now close to that of major tech stocks like Nvidia. The ETF mechanism provides both primary and secondary market liquidity, gradually granting it the attributes of an "institutional-grade asset."

Although the market remains under pressure from macroeconomic and interest rate environments, Adrian Fritz believes that ETF capital inflows have shifted from speculative drivers to structural demand. He expects that, driven by factors such as improving geopolitical conditions, sustained capital inflows, and short covering, Bitcoin could challenge the $100,000 mark within this year. Meanwhile, the divergence among altcoins is intensifying, with the market shifting towards an asset selection logic that emphasizes fundamentals and cash flow. (CoinDesk)