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Tokenization platform Securitize has partnered with $730 billion alternative asset manager Apollo to bring a new tokenized credit fund on-chain.
Securitize announced on Jan. 30 that it had collaborated with the NYSE-listed Apollo to launch the Apollo Diversified Credit Securitize Fund on several major blockchains.
The fund, ACRED, will offer tokenized access to a diversified credit strategy, with support available on Solana, Ethereum, Aptos, Ink, Avalanche and Polygon networks.
BREAKING: APOLLO TOKENIZES $1.2B PRIVATE CREDIT FUND
The $730B investment giant just launched ACRED, on-chain access to their Diversified Credit Fund, across 6 chains:
Ethereum, Solana, Ink, Aptos, Avalanche, Polygon
11.7% yield in 2024, managed by one of the world’s top… pic.twitter.com/1PpIwpyQkV
— RWA.xyz (@RWA_xyz) January 30, 2025
It’s the first time the ACRED fund is available on-chain to qualified institutional investors.
“This tokenization not only provides an on-chain solution for Apollo Diversified Credit Fund, but also could pave the way for broader access to private markets through next generation product innovation, greater secondary liquidity, and efficiency over time,” Apollo partner Christine Moy said.
To enable multichain support, Securitize is leveraging its integration with interoperability provider Wormhole.
Bringing fixed income and private credit on-chain adds to the tokenization momentum that has seen major players such as BlackRock, Franklin Templeton, Hamilton Lane and KKR among others bring funds on to the blockchain.
In a comment, Securitize co-founder & CEO Carlos Domingo noted;
“The next wave of demand for tokenized assets has emerged around fixed income, including private credit. Apollo’s expertise in private credit makes them an ideal partner in tokenizing this category of real-world assets (“RWA”), unlocking broader opportunities for investors.”
The tokenized private credit market allows investors to earn real yield from providing loans to global businesses, with the sector a $1.6 trillion market in the traditional finance ecosystem.
Currently, the tokenized private credit market accounts for about $21 billion in total on-chain loans, about $11.7 billion of which is active on various protocols.
In a bold projection shared on social media platform X, Thomas Fahrer, co-founder of Apollo, a Bitcoin ETF performance tracker forecasted a dramatic rise in BTC price. Fahrer predicted that the Bitcoin price could reach $3.5 million per coin by 2030. Moreover, Fahrer’s optimistic outlook is rooted in significant growth expectations for global assets and an increasing adoption of Bitcoin as a store of value.
According to Fahrer, Bitcoin currently represents a mere 0.1% of the world’s wealth. However, he anticipates this share will soar to 5% by the end of the decade. He bases his calculations on the assumption that total global assets, currently valued at approximately $900 trillion, will expand to $1,500 trillion by 2030.
Furthermore, he noted that Bitcoin will hold a share of 5% in global assets by then. Using these figures, Fahrer deduced the price of one Bitcoin as follows: 5% of $1,500 trillion divided by Bitcoin’s maximum supply of 21 million.
This resulted in an approximate price of $3.5 million per BTC. On the contrary, Fahrer acknowledged the ambitious nature of his prediction, admitting it could be considered conservative in certain aspects. He argued that global asset inflation is likely to exceed the 7% annual growth rate used in his forecast.
However, he also conceded the possibility that Bitcoin’s market share might only reach 1% instead of the projected 5%. Nonetheless, even if BTC manages to grab the 1% share, a fair upside in its price trajectory can be expected. In this scenario, Bitcoin might attain a value of over $714,000, representing a staggering 866% gain from the recent peak.
Fahrer’s insights were partly inspired by a recent presentation from Michael Saylor, founder of MicroStrategy. The presentation highlighted that Bitcoin’s current market cap stands at $1 trillion, significantly trailing behind gold’s $16 trillion while real estate space commands the domain with a $330 trillion market size.
Also Read: Bitcoin Maxi Unveils Reasons Why BTC Outperforms ETH, SOL, XRP & Other Altcoins
The Bitcoin price witnessed a rebound today, surging past $69,400. At press time, the BTC price 2.19% $69,394.41 on Monday, June 3, boasting a market capitalization of $1.36 trillion. Furthermore, the 24-hour trading volume for Bitcoin skyrocketed 91.45% to $24.56 billion amid the recovery.
In addition, the BTC futures open interest soared 3.99% to $35.73 billion in the last 24 hours, according to Coinglass. As shorts dominated the liquidations with $15.16 million liquidated, a further BTC price rally can be witnessed as these traders are likely to buy back their positions to curb losses owing to the recent surge.
Moreover, a whopping 75,352 BTC have been withdrawn from exchanges in the last seven days alone. Whilst, over 300 BTC were pulled out of exchanges today. These withdrawals could lead to a supply shock, potentially propelling the BTC price higher.
Also Read: 5 Top Catalysts That Could Propel Bitcoin Price Rally To $150,000
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a bold forecast that has captured the attention of the cryptocurrency community, the Co-Founder of Apollo has predicted that Bitcoin could rally to an astonishing $5 million. This ambitious projection comes amidst growing institutional interest and significant market developments poised to drive Bitcoin’s value to unprecedented heights. Echoing the bullish sentiments recently expressed by Michael Saylor, the Apollo Co-Founder Thomas Fahrer identifies a “holy trinity of bullish catalysts” that are nearing completion. These catalysts set the stage for what could be the most remarkable price surge in Bitcoin’s history. Here’s an in-depth look at the factors behind this optimistic prediction and why investors are paying close attention.
In a sequel to Michael Saylor’s recent post emphasizing growing institutional interest in Bitcoin, the Apollo Co-Founder Thomas Fahrer has reiterated his bold prediction that Bitcoin could rally to an astounding $5 million. The convergence of what he describes as the “holy trinity of bullish catalysts,” signaling that the conditions for such a dramatic price increase are nearly in place underpins this assertion.
Michael Saylor, a prominent Bitcoin advocate and CEO of MicroStrategy, recently highlighted the growing institutional interest in Bitcoin, stating, “Wall Street wants Bitcoin, the House of Representatives wants Bitcoin, and now the Senate wants Bitcoin.” His comments reflect a significant shift in the acceptance and adoption of Bitcoin among major financial and governmental institutions, bolstering the narrative of Bitcoin as a mainstream asset.
The Apollo Co-Founder Thomas Fahrer, outlined three critical factors that he believes will propel Bitcoin to new heights. First, the approval of a spot Bitcoin Exchange-Traded Fund (ETF) would provide investors with a straightforward and regulated avenue to invest in Bitcoin, likely driving substantial capital inflows into the cryptocurrency market. Second, the Financial Accounting Standards Board (FASB) has been working on implementing fair value accounting rules for digital assets.
Such rules would allow companies to report their Bitcoin holdings at fair value, reflecting real-time market prices. This transparency could encourage more corporate treasuries to invest in Bitcoin. Lastly, major financial institutions offering custody services and lending against Bitcoin as collateral would further legitimize Bitcoin as a valuable asset class. This development would increase liquidity and provide a more robust financial infrastructure for Bitcoin holders.
Also Read: U.S. Spot Bitcoin ETFs Bought 5 Times the BTC Mined This Week
Bitcoin has shown a bullish trend in the weekly crypto price analysis, consistently finding strong support above the $60,000 mark. This solid foundation sets the stage for an anticipated upward movement toward a $70,000 resistance level. Currently, the live price of Bitcoin (BTC) is $65,666.89 after a slight correction from the $66,700 resistance level. Today, cryptocurrency’s 24-hour trading volume stands at $23.8 billion. The coin has declined by 0.7% in the past 24 hours, trading between $65,842.40 and $65,179.62. Bitcoin’s live market cap is $1.2 trillion, with open interest at -1.81%, valuing $17.3 billion.
Technical indicators further reinforce the optimistic outlook for the BTC/USD pair, with a majority signaling a buy. The Relative Strength Index (RSI) demonstrates above-average readings currently at the 62.04 level, showing potential buying pressure within the market. Additionally, the Moving Averages Convergence Divergence (MACD) indicator has experienced a bearish crossover in the past week, suggesting the potential onset of a new bear market phase. The 20-SMA and 50-SMA however show a bullish trend, with the 20-SMA providing sturdy support for Bitcoin’s price.
Also Read: Crypto Prices Today May 17: Bitcoin & Ethereum Retreat, Chainlink Bags Top Gainer Crown
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Apollo Crypto, a renowned name in the field of cryptocurrency analysis, has recently released a comprehensive report predicting a significant surge in the Bitcoin price, potentially reaching as high as $200,000 in the current cycle. Authored by Henrik Andersson, the report delves into various factors that could contribute to this remarkable growth.
A pivotal aspect of the report is the anticipated approval of the first spot Bitcoin Exchange-Traded Fund (ETF) in the United States. Eric Balchunas, the senior Bloomberg ETF analyst, is quoted saying, “There is a 90% chance of an approval by January 10, 2024.” This development is seen as a significant driver for Bitcoin’s price increase.
The report elaborates on the interest from prominent asset managers in Bitcoin spot ETFs, asserting, “In our view, it is likely that the SEC won’t give preferential treatment to a single ETF issuer; therefore several of them are likely to get approval at the same time.”
A key element in Apollo Crypto’s analysis is the potential new money inflow into Bitcoin ETFs. The report estimates this by considering the total size of US holdings of equities at $64.7 trillion.
It assumes that 10% of these investors would allocate 1% to Bitcoin ETFs, leading to an estimated inflow of $65 billion. This number is cross-referenced with the total US ETF market size of $6.5 trillion, where Bitcoin ETFs are expected to capture 1%, aligning with the $65 billion inflow estimate.
The concept of the ‘Bitcoin multiplier’ is also central to the report’s analysis. This refers to the effect of each dollar inflow on Bitcoin’s market cap. The report cites the next BTC halving in April 2024, which will reduce the new supply of BTC, as a factor that could increase the multiplier effect.
Referring to a Bank of America report titled “Bitcoin’s dirty little secrets,” Apollo Crypto notes, “For example, we estimate that a net inflow of just $93 million would result in price appreciation of 1%.” From this, they deduce a 114x multiplier effect as an upper bound but apply a more conservative estimate of 50x for their scenario.
Combining the inflow estimate and the multiplier effect, the report concludes that Bitcoin could reach $200,000 per coin in this cycle:
Putting it all together leads us to believe that we could see $65 billion in inflow to Bitcoin ETFs in the coming cycle. Applying a 50x multiplier effect leads to an increased market cap of $3.25 trillion in which case we would see Bitcoin trading at $200,000 per coin. We realize this is a bold estimate with a lot of uncertainty.
The report doesn’t stop at Bitcoin. It also analyzes the performance relationship between Bitcoin and Ethereum during the last bull market, using a specified period from September 2020 to November 2021.
During this phase, the report notes, “Bitcoin increased 4.8x while Ethereum increased 9.8x; Ethereum increased twice as much as Bitcoin during this time.” This historical data is crucial as it indicates that Ethereum tends to have a higher beta, or sensitivity, to Bitcoin’s market movements.
Building on this relationship, the report projects that if Bitcoin’s price were to quintuple – as suggested in their forecast from $40,000 to $200,000 – then based on the past market behavior, Ethereum could potentially experience a parallel and more pronounced surge.
The report estimates, “If the relationship holds for the coming cycle and Bitcoin increases 5x, then Ethereum would reach $22,000.”
At press time, BTC traded at $43,371.
Featured image from Shutterstock, chart from TradingView.com
In other SVB-related news, the Financial Group, which was the holding company of SVB, is exploring ways to sell off its other units.
Private equity company Apollo Global Management is reportedly interested in the book of loans held by the now-collapsed Silicon Valley Bank (SVB). The bank has made several headlines over the past week due to its debacle that affected the entire US banking sector. Regulators have taken over SVB, and investors, including Apollo, have started eyeing the company.
According to people familiar with the matter, Apollo is looking to buy pieces of SVB. The sources revealed that the asset manager is eyeing the bank’s book of loans. As of the 31st of December, 2022, the financial institution had $73.6 billion of loans. While SVB had billions of dollars of loans as of the end of 2022, there is currently no information on the specific size of the loan book Apollo is interested in.
In addition, the bank had over $175 billion in mostly uninsured deposits and $209 in total assets. These assets were long-term bonds that SVB was forced to sell at a loss amid rising interest rates. Other assets attributed to SVB are loans to early-stage and growth companies. More include credit for wealthy entrepreneurs and VC funds.
Over the week, the Federal Deposit Insurance Corporation (FDIC) conducted but there was no buyer. Now, the regulator has created a bridge bank to accommodate SVB’s deposits.
In other SVB-related news, the Financial Group, which was the holding company of SVB, is exploring ways to sell off its other units. Investment banking company JPMorgan Chase & Co (NYSE: JPM) has started acquisition discussions with the parent company. Sources who pleaded anonymity stated that the ongoing agreement excludes SVB, which is now under US control.
As SVB crumbles and investors, such as Apollo, eyepieces of the company, many are beginning to believe that no firm is too big to fail. This has also affected the United States stock futures. The US stock market, with futures tied to the Dow Jones Industrial Average (INDEXDJX:.DJI), plunged 276 points on Monday. Futures linked to the S&P 500 Index also fell 1%, while the Nasdaq-100 lost 0.7%.
As a result of uncertainty and fears in the market, the Federal Reserve, the Treasury Department, and the FDIC released a joint statement. According to them, while SVB equity holders do not have a bailout, depositors will have access to their funds. The statement reads:
“Today we are taking decisive action to protect the US economy by strengthening public confidence in our banking system.”
Read other business news on our website.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
On March 9, 2022, LBank Exchange, a worldwide digital asset trading platform, will float Apollo Inu (APOLLO). The APOLLO/USDT trading pair will be officially accessible for trading at 21:00 (UTC+8) on March 9, 2022, for all LBank Exchange users.
Numerous content producers, such as painters, photographers, musicians, and tik-tokers, may not have the time, money, or resources to pursue their creative love as a vocation.
Apollo Inu (APOLLO) is addressing this issue by creating communities that assist budding artists and content creators in obtaining the tools they require to land their big break.
On March 9, 2022, at 21:00 (UTC+8), the APOLLO token will be launched on LBank Exchange to assist it to fulfill its vision and expanding its global reach.
Matt Johnson, a 48-year-old Dallas-based veteran software developer, and game designer invented Apollo Inu (APOLLO), an ERC-20 coin that became live on January 12, 2022. Apollo is a community-friendly, open-book token developed on a significant platform that is created in the original spirit of the blockchain to enable transparency and decentralized control.
2 trillion tokens were initially produced, and 1 trillion were instantly destroyed by transferring them to a burning wallet, which removed them from supply in an irreversible manner, ensuring Apollo’s strong stability and deflationary impact. There will be no more tokens available, and there will be no tokens for pre-sales, early access, or developer hold-backs.
The APOLLO tokenomics give 3 percent reflections to reward holders, 2 percent burn to stabilize token value and 1% donation to the DAO’s “Creator Prize Fund.”
On March 9, 2022, at 21:00 (UTC+8), APOLLO will be listed on LBank Exchange, and investors interested in Apollo Inu investment will be able to easily acquire and sell APOLLO tokens on LBank Exchange. APOLLO’s listing on LBank Exchange will surely assist it in expanding its business and attracting more market attention.
Apollo Inu (APPOLO) is a community-run Decentralized Autonomous Organization (DAO) and token that helps creative people realize their aims. Every purchase, sale, and trade of Apollo contributes to the “Creator Prize Fund,” which is managed by the Apollo community via a DAO.
Every week, a new competition begins. Creators submit their names for consideration, along with details about their work and goals. They then use Apollo’s Discord, Telegram, Twitter, Tik-Tok, and Instagram communities to increase interest in their work and win more votes, as well as broadcast to their family, friends, and fans to vote for them.
Anyone who owns APOLLO has the ability to vote. The amount of each weekly award is determined by the number of votes received and the current size of the artist fund, ensuring that each prize is proportional to the popularity of the audience and that there is enough money left over for future winners. In addition, the whole vote tally, as well as the winner, are uploaded to IPFS and the blockchain for auditing purposes.
The reward is given to the creator with the most votes at the end of the week. Winning creators will help develop the Apollo community by spreading the word about the competition and recruiting new creators, influencers, investors, and supporters.
Everything, including development, community outreach, voting, and creator awards, is governed by the community through the DAO, putting Apollo holders in charge of the token and its growth.
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