United

Bitcoin ETF

Bank AI

Bitcoin

Spot

<div class="watcher-guru">
 <p>According to Ernst &amp; Young (EY) global blockchain leader Paul Brody, Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> approval from the US Securities and Exchange Commission (SEC) could bring an influx of institutional investment interest to the sector. Indeed, Brody spoke to CNBC regarding the transformative reality that the industry could face following the arrival of the investment product.</p>
 <p>The increase in interest would be a stark contrast to the response of institutional trading within the industry this year. Specifically, Chainalysis reports that institution trading volume fell massively in April 2023. Specifically, the firm stated that the decline in transactions was more than $10 million following the collapse of Silicon Valley Bank and Silvergate.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="506" src="https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp" alt="SEC Bitcoin ETF Approval Could Push Bitcoin to $73,000: Report" class="wp-image-115954" srcset="https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp 1024w, https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp 300w, https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp 768w, https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp 380w, https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp 550w, https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp 800w, https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp 1160w, https://cdn.thebittimes.com/images/2023/10/24/5b872dae01100cf87177d89965fa64fc.webp 1311w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: CryptoDisrupt
  </figcaption>
 </figure>
 <p><strong>Also Read: Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> Google Searches Spike as Industry Confidence Prevails </strong></p>
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-institutional-investment-to-surge-after-bitcoin-etf-approval">Institutional Investment to Surge After Bitcoin ETF Approval?</h2>
 <p>For much of this year, the crypto industry has closely observed the potential arrival of the United States’ first-ever spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>. Following applications from asset management firms like Fidelity and BlackRock, the presence of an exchange-traded fund appears to be a matter of time.</p>
 <p>Subsequently, the expectation of approval has increased. Everyone from Mike Novogratz to Coinbase has predicted its arrival by the end of the year. Now, EY blockchain leader Paul Brody has stated that a <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> approval should raise institutional investment interest.</p>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp" alt class="wp-image-109144" srcset="https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp 1024w, https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp 300w, https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp 768w, https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp 380w, https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp 550w, https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp 800w, https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp 1160w, https://cdn.thebittimes.com/images/2023/10/24/d803fbad59be5b86cfa302b51e935180.webp 1260w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin cryptocurrencies and graph statistic background
  </figcaption>
 </figure>
 <p><strong>Also Read: Bitcoin Price Forecasts as $56K Upon Approval of BlackRock ETF</strong></p>
 <p>“Speaking to CNBC, Brody emphasized the potential reaction to an approval. “But any of these other institutional funds, they can’t touch this stuff unless it’s an ETF or some other kind of regulatory blessed activity,” Brody told CNBC.</p>
 <p>“If you look at people who are buying Bitcoin, they are buying it as an asset. They are not buying it as a payment tool,” he stated. “Those who are buying Ethereum are buying it as a computing platform for business transactions and DeFi services.”</p>
 <p>Subsequently, Brody has confirmed that the introduction of a regulatory compliance exchange-traded fund would change the game for the asset. Conversely, the presence of investment firms like Grayscale and BlackRock had already begun to make good on that prediction.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
 <p></p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>Bitcoin ETF</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-etf-approval-to-bring-increased-institutional-investment-tbt67476.html">https://thebittimes.com/bitcoin-etf-approval-to-bring-increased-institutional-investment-tbt67476.html</a></p>

Bitcoin ETF Approval to Bring Increased Institutional Investment

Table of Contents

TheBitTimes

Other articles published on Oct 23, 2023

This is crypto’s secret weapon against Wall Street

Bitcoin ETF: The magnet for big institutions? EY thinks so

FinCEN Proposes New Rules that Could Impact Bitcoin's CoinJoin Services Alongside Mixers

Crypto custodian BitGo eyes Dubai expansion, applies for license

Solana Price Prediction Signals 20% Rally Ahead, But There’s a Catch

Two Major Whales of This Altcoin Began to Take Profit

Join our free newsletter for daily crypto updates!