Anthony Scaramucci, founder of Skybridge Capital, predicts a huge influx of Wall Street capital into spot bitcoin exchange-traded funds (ETFs) upon SEC approval.

He expects over $100 billion to flow into bitcoin following these approvals.

Scaramucci believes financial advisors and brokerage firms will encourage clients to invest in bitcoin, citing its performance and value storage.

He estimates that if Fidelity and Blackrock allocate just 1% of their managed funds to bitcoin, it would amount to $100 billion.

The approval of spot bitcoin ETFs, according to Scaramucci, will unleash a sales force of thousands.