CryptoQuant: Approval of a Bitcoin spot ETF could increase the cryptocurrency market value by $1 trillion.

According to a report by CoinDesk on October 18th, BlockBeats News stated that CryptoQuant, a blockchain analytics company, predicts that if a Bitcoin spot ETF is approved, Bitcoin's market value will reach $900 billion, and the entire cryptocurrency market value will increase by $1 trillion. CryptoQuant noted in the report that the first institutional adoption from 2020 to 2021 was institutions adding Bitcoin to their balance sheets, and the next wave of adoption could be financial institutions offering Bitcoin trading to clients through spot ETFs.