Gabor Gurbacs, strategic advisor of fund management company VanEck and Tether, made a statement regarding spot Bitcoin exchange traded funds.
Gabor Gurbacs social media dated January 30 in the post, touched on the global impact of spot Bitcoin funds. Stating that real estate collapse and bankruptcies can no longer affect Bitcoin, the experienced name focuses on spot Bitcoin ETFs. Strong demand is a very important catalyst he emphasized.
of Bitcoin FTX made by through GBTC shares over 1 billion dollars Pointing out that the sale was quickly absorbed, Gurbacs said that Bitcoin was flowing from weak hands to strong hands, that is, corporates.
Bitcoin entered this process with spot ETFs.maturityDefining it as “level”, Gabor Gurbacs included the following statements in the details of his statement:
It looks like Bitcoin ETFs absorbed the FTX GBTC real estate sell-off fairly quickly and without major impact.
Estate sales are no longer a disaster. Bitcoin is flowing from weak hands to strong hands. I’m glad we made ETFs possible. It changes the game and calms downside volatility. Various estate sales and bankruptcies are no longer a disaster for Bitcoin. ETFs and institutional buyers continue to accumulate Bitcoin. I don’t know how to describe it, but it feels like a new era and a new level of “maturity” for Bitcoin as an asset.