Credit rating agency Moody’s does not think spot Bitcoin ETFs will make a big impact in the investment world.
The US Securities and Exchange Commission’s (SEC) approval of spot Bitcoin ETFs was a turning point for the cryptocurrency industry.
Vincent Gusdorf, Moody’s DFDA Senior Vice President “Wednesday’s announcement is for Bitcoin it will be unimportant We don’t say. “It is important and the entry of institutional investors into this market will be a turning point for the crypto industry.” said.
DFDA Vice President Cristiano Ventricelli, “Bitcoin has a relatively small share in investors’ portfolios, and the approval of ETFs is certainly not a reason for that share to increase.” he commented.
Experts say that Bitcoin is still a highly volatile investment tool and that when investing, one should be careful about the risks that come with it.
Ventricelli says spot ETFs will benefit Bitcoin in the long run may produce positive results thinks:
“We see this as a positive development that will improve Bitcoin’s price discovery and stability in the medium-to-long term. “It will also make some institutional investors probably give it more weight (in their portfolios).”