First spot in the US market Bitcoin (BTC) The launch of its ETFs was considered a major milestone for the digital asset class, opening the door to large-scale investment flows from institutional investors.
Will Institutions Fuel a New Crypto Bull Run?
Bobby Zagotta, US CEO of cryptocurrency exchange Bitstamp, shared his views on the effects of this development in an interview.
Zagotta called the ETF approvals a major milestone that brings real validation for the industry in general. Zagotta emphasized that it allows different market segments to participate in a way they are comfortable with.
He noted that the inflows seen in the days following the confirmations helped support Bitcoin’s price higher despite the expected correction.
He said that the products create volume in various channels and that this volume reaches reliable liquidity providers such as Bitstamp.
Zagotta continued his speech as follows:
“I think perhaps some very important pension funds and others will eventually choose to get involved in the ETF route. As we said, this will only make the cake bigger. “It will create a larger, more robust market.”
Zagotta remains positive about the future of crypto trading. He noted that although the price had dropped slightly, it was still significantly higher than it was a few months ago.
He also noted that regulatory and other factors that could impact the price are still in play.
He reported that Bitcoin transaction volumes on Bitstamp were generally good, especially in the first half of January. The exchange also saw increased participation and hiring on both the retail and institutional sides between November and January.
*This is not investment advice.
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