The term “groundbreaking moment” may be an overused one, but in the case of today’s news regarding bitcoin ETF funds, it couldn’t be more suitable. For 15 years, Bitcoin has been gaining prominence as an asset class among individual investors, while in a twist of traditional roles, institutional investors largely remained on the sidelines, waiting for the introduction of traditional financial rails.
Today’s news is a response to institutional demand for Bitcoin. This is good news for the cryptocurrency market, confirming our belief that Bitcoin is an unstoppable technology. It represents digital gold, and considering the long-term perspective, I see it as intersecting with finance, economics, and technology.
For our users, individual investors, today’s news is positive, as it will support the growth of Bitcoin as an asset class. But I believe that the majority of retail investors will still want to buy and hold actual BTC.
Yoni Assia, CEO and Co-founder of eToro
