New Bitcoin Statement from Coinbase!

While a potential approval by the SEC for the spot Bitcoin ETF stirred up BTC and altcoin prices, all eyes turned to good news from the SEC.

While experts were waiting for an approval for spot ETFs towards the end of November, a new ETF report came from Coinbase analysts.

Coinbase analysts, led by Coinbase’s head of institutional research David Duong, said that if spot Bitcoin ETFs are approved, new classes of investors will come to the crypto market, Coindesk reported.

Coinbase stated in its report that the new investor classes will include registered investment advisors (RIAs), pension funds and institutions that have historically been unable to access the asset class:

“The opportunity provided by the approval of spot Bitcoin ETFs will potentially be much greater than simply enabling new capital to access the crypto market.

Because ETFs will ease restrictions for major money managers and institutions to purchase and hold BTC, which will increase liquidity and price discovery for all market participants.

Additionally, having an investment vehicle that meets key regulatory and compliance requirements can open the door to new products that can expand crypto and Bitcoin adoption.

“An approval for spot ETFs at this point could add billions of dollars in total to the crypto market in the long run, and ETFs could lay the foundation for a more regulated environment, greater participation and material growth in demand in crypto and BTC.”

Coinbase analysts recently stated that the world has fewer safe haven alternatives in an environment of increasing geopolitical tensions and economic dysfunction and said, “The ETF story has led to more focus on Bitcoin in this environment of uncertainty. In addition, the US banking sector remains extremely vulnerable. This makes Bitcoin traditional.” “It makes it even more attractive as an alternative to the financial system.” said.

*This is not investment advice.