From Time:

Bitcoin spot ETFs received approval by the U.S. SEC this week. 11 cryptocurrency funds approved. Experts expect this to be a watershed moment for crypto adoption. Spot ETFs differ from futures contracts by holding actual bitcoin as an underlying asset.

Bitcoin spot ETF approval could be huge for the crypto industry. It may increase accessibility, liquidity, demand, and price of bitcoin. It will also attract more interest and capital from larger financial institutions.

The approval of spot ETFs legitimizes bitcoin investing and is expected to bring a greater interest from larger financial institutions. It could potentially lead to $300 billion being invested in bitcoin if financial advisors allocate just 1% of their assets into spot bitcoin ETFs.

Bitcoin prices have surged 150% in the last year. They are now trading at almost $46,000 apiece. Experts believe the approval of spot ETFs could strengthen the regulatory oversight of bitcoin and lead to increased interest in investing in these funds compared to buying bitcoin directly from a crypto exchange and holding it in a digital wallet.



Read more: Bitcoin Spot ETF Approval Could Attract Millions to Crypto