Bitstamp USA Chief Bobby Zagotta Says Crypto Likely To See Increased Institutional Adoption and Onboarding in 2024

Bitstamp USA Chief Bobby Zagotta believes that the crypto industry will experience a surge in institutional adoption in 2024. In an interview, Zagotta stated that the potential approval of Bitcoin exchange-traded funds (ETFs) in the spot market would attract new investors. He expressed optimism, stating that ETFs provide access for a new segment of investors and participants. Zagotta further commented on the increased interest from blue-chip investors and the preparations being made by institutions for greater crypto adoption. Despite challenges faced in the market, such as regulatory uncertainty and banking obstacles, institutions have been onboarded and are ready for increased adoption. Several traditional finance companies, including BlackRock, VanEck, and ARK Invest, have submitted proposals to create spot market BTC ETFs, which could potentially be approved by the U.S. Securities and Exchange Commission in January 2024.