Outside Source
Crypto industry experts examined how approving a Bitcoin (BTC) ETF in the U.S. accelerates institutional investment in cryptocurrencies and mass adoption of BTC.
According to crypto.news reporter, at the Qatar Web Summit on Feb. 28, experts agreed that ETFs open Bitcoin to a new class of professional investors by providing regulated investment vehicles. The discussion was held between Animoca Brands CEO Robby Yung, Dfinity Foundation founder Dominic Williams, and Delta Blockchain Fund founder Kavita Gupta.
Additionally, experts expressed optimism that institutional interest in Bitcoin through ETFs is accelerating mainstream technology adoption, which has positive implications for financial inclusion and the broader crypto ecosystem.
“Bitcoin gives you that flexibility, that if you are living in a country, which does not have a stable political system <…> you do have a different currency than the currency promised by your government, not only to transact but also to store as you move to a new country and start your life.”
Delta Blockchain Fund founder Kavita Gupta
Williams also called the ETF encouragement “fantastic news” for BTC. According to him, thanks to ETFs, more liquidity flows into Bitcoin, which makes it function better as a store of value and medium of exchange.
“Even when people buy Bitcoin via an ETF or directly using Bitcoin, they have added value to it.”
Dominic Williams, Dfinity Foundation founder
Spot Bitcoin ETFs see record inflows. At the moment, the funds have already accumulated over 300,000 BTC. For two days in a row, Feb. 26 and 27, the daily trading volume for spot Bitcoin ETFs exceeded $2 billion.
On Feb. 28, amid increasing volumes, the Bitcoin rate broke through $58,000 and then soared to $59,000. In just one day, BTC increased in price by more than 5%, in a week – by more than 15%, according to CoinMarketCap.
This article first appeared at crypto.news
