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Former Goldman Sachs Exec Says Bitcoin ETF Will Be Approved, Bringing Billions Into Crypto Market

Former Goldman Sachs Exec Says Bitcoin ETF Will Be Approved, Bringing Billions Into Crypto Market
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Raoul Pal, former Goldman Sachs exec and hedge fund manager, says that Bitcoin is offering a rare opportunity for retail investors to get out and invest in the next big thing before institutional investors.
In a YouTube interview with Jerry Hall, Pal says that a proper Bitcoin exchange traded fund (ETF) will be the catalyst that brings billions of dollars into BTC and exponentially expands the market capitalization of the largest cryptocurrency. 
“You’re allowed to front-run in Bitcoin, and I’m going to give you the biggest front-running opportunity of your life: they will get an ETF across the line. There will be billions of dollars that pour into it. Every pension plan will allocate some money to it. Every family office will allocate some money to it. And the more the price goes up, the more they will allocate because the larger the market cap of Bitcoin is…
This is an opportunity for retail to front-run the institutions for once as opposed to Goldman Sachs front running us.”
Pal says that for now, the big funds and institutions are trying to understand Bitcoin, but don’t have an easy way to trade it yet.
“Just understand: the pension plan, the endowment, the family office, the [registered investment advisors], they’re so far trying to get their heads around Bitcoin, and they don’t have a product to trade yet. So they passed the custody regulations in the US, so now banks can custody. That means prime broking is coming for hedge funds. Hedge funds will be first into the space, that’s clear…
They (the RIAs) understand that this is interesting but they can’t do it. The regulations won’t allow them to hold this digital asset.”

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