Morgan Creek Capital’s CEO Mark Yusko anticipates massive inflows into the crypto market as baby boomers’ wealth, estimated at trillions, seeks entry into digital assets.
During an interview with “The Wolf Of All Streets” podcast, Yusko discussed how the introduction of Bitcoin (BTC) exchange-traded funds (ETFs) and increased interest from registered investment advisers have led to a significant shift in demand. Its full impact, however, is yet to be realized. According to Yusko:
“There’s going to be $300 billion, I believe. That’s 1% of the $30 trillion that comes into this space [within 12 months]. That’s actually more money than has ever [been] converted to Bitcoin in 15 years. That’s a pretty amazing thing.”
Yusko predicts capital flows are likely to come from baby boomers — those born between 1946 and 1964 — through retirement accounts managed by advisers. According to the Investment Adviser Association, U.S. financial advisers managed $114.1 trillion in assets in 2022.
“We’re a couple of months […] about three months into the ETFs, and we’ve gotten about 10% of what I believe is coming into this space from registered investment advisers that control all the boomers’ cash,” Yusko stated, adding that the influx could potentially push the crypto market’s capitalization to $6 trillion.
“I’ve been saying that this is going to be the best Thanksgiving ever, right? No more ‘you’re not welcome because you’re a crypto person in the family,’“ the executive commented over the expected increase in Americans’ social acceptance of cryptocurrencies.
Spot Bitcoin ETFs were approved by the U.S. Securities and Exchange Commission in January, ten years after the Winklevoss twins’ first application. Wall Street giants BlackRock, Fidelity, and VanEck, among others, led the first batch of approvals. According to data from BitMEX Research, Bitcoin ETFs were worth a combined over $53 billion as of April 24.
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