Bitcoin ETF

Bitcoin

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Crypto industry experts examined how approving a Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETF in the U.S. accelerates institutional investment in cryptocurrencies and mass adoption of BTC. 
According to crypto.news reporter, at the <a href="https://crypto.news/event/web-summit-qatar/" target="_blank" rel="noreferrer noopener">Qatar Web Summit</a> on Feb. 28, experts agreed that <a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">ETFs</a> open Bitcoin to a new class of professional investors by providing regulated investment vehicles. The discussion was held between <a href="https://crypto.news/tag/Animoca-Brands/" target="_blank" rel="noreferrer noopener">Animoca Brands</a> CEO Robby Yung, Dfinity Foundation founder Dominic Williams, and Delta Blockchain Fund founder Kavita Gupta. 
Additionally, experts expressed optimism that institutional interest in <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> through ETFs is accelerating mainstream technology adoption, which has positive implications for financial inclusion and the broader crypto ecosystem. 
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 “Bitcoin gives you that flexibility, that if you are living in a country, which does not have a stable political system &lt;…&gt; 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.” <cite>Delta Blockchain Fund founder Kavita Gupta</cite>
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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. 
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 “Even when people buy Bitcoin via an ETF or directly using Bitcoin, they have added value to it.” <cite>Dominic Williams, Dfinity Foundation founder </cite>
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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 <a href="https://crypto.news/spot-bitcoin-etfs-record-new-trading-volume-aths-in-2-straight-days/" target="_blank" rel="noreferrer noopener">exceeded</a> $2 billion. 
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 The newborn nine have amassed 300,000 BTC! <a href="https://t.co/TfNWGgsSmg" target="_blank">pic.twitter.com/TfNWGgsSmg</a>— Vetle Lunde (@VetleLunde) <a href="https://twitter.com/VetleLunde/status/1762385285915070750?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 27, 2024</a>
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On Feb. 28, amid increasing volumes, the Bitcoin rate broke through $58,000 and then <a href="https://crypto.news/bitcoin-surpasses-the-59k-mark-whales-on-the-way/" target="_blank" rel="noreferrer noopener">soared</a> to $59,000. In just one day, BTC increased in price by more than 5%, in a week – by more than 15%, according to <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>. 
 Read more: <a href="https://crypto.news/spot-bitcoin-etf-approval-changes-nothing-analysts-at-ecb-insist/"> Spot Bitcoin ETF approval changes nothing, analysts at ECB insist </a>

Bitcoin ETF approvals spark mass BTC adoption, experts say

crypto.news

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