Bitcoin

Arthur

Change

Spot

Arthur Hayes, the co-founder and former CEO of leading cryptocurrency trading platform BitMEX, expects asset management giant BlackRock’s entry into the <a href="https://en.coin-turk.com/bitcoin-investors-prepare-for-a-new-week-after-a-10-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/hopes-for-spot-bitcoin-etf-fade-4-experts-weigh-in-its-not-possible-for-now/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) market to fundamentally change the largest cryptocurrency.
<h2 style="text-align: justify" id="strong-traditional-finance-can-change-bitcoin-strong">“Traditional Finance Can Change Bitcoin”</h2>
During an interview with Tom Bilyeu, Arthur Hayes made significant remarks, stating that like other investors, he expected the US Securities and Exchange Commission (<a href="https://en.coin-turk.com/south-korea-approves-first-independent-cryptocurrency-law-bolstering-investor-protection/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a>) to approve a spot Bitcoin exchange-traded fund (ETF). Hayes added that the launch of such an investment product would increase the flow of money into the cryptocurrency market, but also expressed concern about the potential impact of traditional finance on the industry.
<img decoding="async" class="aligncenter size-full wp-image-265332" src="https://coin-turk.com/wp-content/uploads/2023/10/Arthur-Hayes-Bitcoin.jpeg" alt="" width="1200" height="675">
Hayes, known for his striking predictions, emphasized that the real problem that the cryptocurrency market would face in the future is this, and said the following:
<blockquote>
 Essentially, this decentralized asset management companies, which are the arms of the traditional finance (TradFi) ecosystem, will embrace Bitcoin as a value and currency so much that it can change what Bitcoin is and its underlying fundamentals.
 With the support of BlackRock, perhaps through different types of improvements with the support of investors and large mining companies, the immutability of money, resistance to censorship, or decentralization can be reduced.
</blockquote>
<h2 style="text-align: justify" id="strong-waiting-continues-for-spot-bitcoin-etf-strong">Waiting Continues for Spot Bitcoin ETF</h2>
SEC postponed its decision on multiple ETFs, including BlackRock’s spot Bitcoin ETF, at the end of September. After this delay, the US federal regulatory agency needs to announce its final decision for spot ETFs awaiting approval in the first quarter of 2024.
Bitcoin, which rose with the hype following spot Bitcoin ETF applications from giants like BlackRock, has turned downwards as the possibility of SEC approving a spot Bitcoin ETF by the end of the year decreases. The largest cryptocurrency Bitcoin is trading at $27,286 with a 1.43% decrease in the last 24 hours. Market experts warn that Bitcoin’s price could make a new bottom. Continue Reading: <a href="https://en.coin-turk.com/will-traditional-finance-change-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/will-traditional-finance-change-bitcoin/</a>

Will Traditional Finance Change Bitcoin?

Table of Contents

COINTURK NEWS

Other articles published on Oct 11, 2023

Bitcoin Dominance is on the Rise Again! Migration from Altcoins to BTC Increased!

Polygon proposes ApeChain and $3.35m dev fund

FARTCOIN (FRTC) - Where LUCK meets blockchain innovation

Kraken Gets 34 Million USDT from Mystery Addresses

FTX Trial: Revelations of the Background of the FTX Crash

SafePal (SFP) Price Prediction 2024, 2025, 2030, 2040, and 2050

Join our free newsletter for daily crypto updates!