From CNBC:

The Securities and Exchange Commission has approved 11 spot bitcoin ETFs, marking a potential turning point for cryptocurrency investing. One of the new ETFs is backed by Ark Invest CEO Cathie Wood, who partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF. As the first-ever batch of spot ETFs began trading, investor interest in bitcoin has been on the rise, with the cryptocurrency up more than 125% in the past 12 months.

Wood believes that the democratization of bitcoin access will be beneficial, as more people gain access to the cryptocurrency through the new ETFs. Financial firms getting more exposure through these instruments could have a noticeable impact on bitcoin prices, with the potential for institutions with trillions of dollars under management to move the needle by even allocating a small percentage to bitcoin.

Ophelia Snyder’s firm 21.co is involved in the cryptocurrency space, bridging traditional finance and decentralized finance for easy crypto access. According to Snyder, bitcoin is more than just a new asset class – it’s a disruptive technology. She highlighted the potential impact of wider bitcoin access on the broader market and the interaction with economic systems and investment portfolios.



Read more: Why spot ETFs may be a game changer for bitcoin