This could be the start of the biggest bull run in the history of any asset.

About 11% of Bitcoin's current supply is sitting on exchanges representing roughly 2.2 million coins. Based on today's prices, that equates to around $66 billion worth of Bitcoin.

From BlackRock's perspective, $66 billion is nothing. If just 0.7% of BlackRock's assets were allocated to Bitcoin, it would be enough to absorb all the coins currently available on exchanges. They could literally corner the market.

This is a hypothetical scenario, of course, but it helps us truly grasp the immense significance and capital that could be eagerly waiting to flood into the Bitcoin market if the spot BTC ETF is approved.

The introduction of a more accurate Bitcoin ETF to the stock market has the potential to unleash a wave of adoption for the crypto like never before and give the asset class the authenticity and legitimacy we need to entice more institutional investors.

And there is plenty of evidence of institutional investors wanting to dive into Bitcoin, but the lack of suitable investment products has left their appetite unsatisfied. Until now?

The SEC has already approved a 2x leveraged BTC fund which starts trading next week. A spot BTC ETF is now seen as very likely to be approved.