Boomer wealth managers stabilize Bitcoin demand
The speakers argued that institutional wealth managers and retail allocators are creating a persistent bid for Bitcoin through spot ETFs, dampening traditional cyclical volatility.
The argument
BlackRock's ETF shares outstanding reached all-time highs during a market downturn, and Morgan Stanley reportedly allocated billions in a short window. The guest noted this represents a structural ownership transfer from crypto natives to long-term wealth management allocators.
The thesis, stress-tested
✓ What validates it
- ✓Morgan Stanley or other wirehouses reporting increased percentage allocations to crypto ETFs
- ✓ETF share creation metrics continuing to rise during market consolidations
▸ Risks discussed
- ▸Outflows from major wealth management platforms
- ▸Regulatory changes restricting broker-dealers from offering crypto ETFs
Hear it yourself
"out necessary for the agent world, we didn't know how big it would be. We didn't know how fast the adoption would be. And this is a mistake that people have made continuously since 2013, which is they made it with the Mag seven. They made it with NVIDIA and after, you know, ChatGPT. In the exponential world, things move at an exponential pace, and that is a parabola. So the IQ going up, the the annualized run rate going up, adoption going up. There is a fundamental basis for this. And before everyone starts to go into this is the .com bubble, demand is ahead of supply right now, and that's the big story."
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