You seem late into this. Bitcoin spot ETFs in the US were approved last January. It's almost a year now.
It was more of a when than if. It was more or less foreseen. What could the SEC do when the global financial giants wanted to make it happen? But years prior to that approval, the US has already approved Bitcoin futures ETFs, and spot ETFs are already in play in other countries as well.
Yeah, much of the increase in the price since then is probably driven by institutions.
Indeed, spot ETFs have long been approved in early 2024, why did I create this topic because I just reminded you that the impact of spot bitcoin ETFs still affects the current increase in market price.
From all of this, many institutions support and the development of bitcoin is getting faster, even many people are competing to trade so that they make money without high risk and after spot bitcoin ETFs are approved, many people want to save long-term bitcoins because they believe this is a success in the future.