So much is happening in the crypto world. It’s been up and down, left and right and seems it’s circling back for another bull run. Research suggests this is because of the potential (most would say eventual) SEC approval of a BTC and ETH Spot ETF. (But most dont realize that that BTC specifically has almost made it through the trenches and it is hauling BTC’s buddy DeFi tokens with it.…..We will post more on this later!)
Going back to Bitcoin and Ethereum ETFs, what are they, what does this mean and why? #Crypto.com has a done a good job explaining this. Have a read:
In summary this is what we gathered:
A Spot ETF is exactly like purchasing Bitcoin without having to do any administrative tasks that go along with trading cryptocurrencies. i.e. setting up a wallet, creating an exchange account etc.
It is exactly like it because the value of a BTC Spot ETF is directly correlated to the value of BTC and will reflect the price fluctuations that BTC will experience.
In simple terms your average investor will be able to own BTC as a BTC Spot ETF through their regular investment platform.
BTC Futures ETF operate like investing in any Futures vehicle. You are betting on a price and hope you win.
So all this excitement is really so crypto adoption, in this case BTC and ETH moves faster and easier? “Sure, one could simply just buy any amount of Bitcoin at any time without ProShares but a futures ETF ensures that users can invest in digital assets and Bitcoin futures contracts without inconveniencing themselves via exchanges.” - #Cointelegraph (https://cointelegraph.com/explained/bitcoin-spot-vs-futures-etfs-key-differences-explained)
So.....Would it be accurate to claim that the approval of BTC and ETH Spot ETFs marks the onset of mainstream adoption for #Crypto? What do you think?