Bitcoin to surge in 6 months as investors pivot from Grayscale to new ETFs, Galaxy Digital’s Novogratz says
Observers says only 10% of GBTC outflows are being redirected to the new ETFs.
Bitcoin’s price should go “higher in six months” because investors divesting their Grayscale’s Bitcoin Trust (GBTC) holding would switch to other exchange-traded funds (ETFs), according to Galaxy Digital CEO Michael Novogratz .
Novogratz made this statement in response to a bearish outlook presented by BTCdata Corporation’s founding partner, Chris J. Terry, who predicted a short-term downturn for BTC due to substantial selling pressure from GBTC.
According to Terry, the market could witness a $25 billion selling pressure before GBTC is liquidated.
Why BTC will go higher
Novogratz countered this view, noting that while investors divest their GBTC holdings, they are likely to reinvest in other ETFs.
Novogratz underlined the accessibility of these new ETFs and emphasized their appeal to a broader demographic, including boomers. He also highlighted the potential for leveraging this Bitcoin exposure up to four or five times.
In his optimistic perspective, the prevailing market unease will subside, leading to a higher Bitcoin valuation within six months.
“While I think people will sell GBTC, I think most will switch into other ETFs – BTCO being my favorite! Let’s not miss the forest through the trees. It’s now gonna be far easier for boomers to buy corn. And you can get 4×5 times leverage on this BTC exposure. This indigestion will end and BTC will be higher in 6 months,” Novogratz concluded .
‘Small minority’ of GBTC outflows are going to new ETFs
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Euro holds gains above 1.1600 on ECB tightening prospects
Deutsche Bank Issues Warning: Accumulating Inflation and Interest Rate Risks, Increasing Market Dislocation May Impact Stocks and Credit Assets
Deutsche Bank has warned that financial markets are facing increasingly severe dislocation—a situation where inflationary pressures are mounting, yet markets are expecting only limited policy tightening from major central banks. This leaves equities and credit assets vulnerable to potential repricing.
Intel increases CPU prices by another 10% and plans to phase out low-margin products
Intel plans to raise prices for its PC CPUs by about 10% in October, marking the third round of price increases since the end of 2025. Meanwhile, CEO Chen Liwu is reviewing low-margin product lines, with some products possibly facing discontinuation and market withdrawal. The main segments affected are industrial computers, IoT, and the embedded market. The core logic behind this round of adjustments by Intel is to prioritize gross profit margin, moving away from the previous strategy of boosting volume through lower prices.
Stellar price rises 4.6% as network activity and trading volume surge
Crypto prices
More
