Galaxy Research: The potential market size of the U.S. spot Bitcoin ETF could reach $14 trillion in the first year after its launch

According to a report by Galaxy Research, the approval of a Bitcoin ETF for spot trading could bring in significant amounts of capital. The report suggests that the US wealth management industry may be the most accessible and direct market, and could gain the most net new accessibility from an approved Bitcoin ETF. As of October 2023, the total assets managed by brokers, banks, and RIA amounted to $48.3 trillion. Based on these industry figures, the potential market size for the first year after the launch of a US spot Bitcoin ETF could reach $14 trillion, $26 trillion in the second year, and $39 trillion in the third year.