Now that there is a US spot bitcoin ETF, bitcoin is no longer considered shady or obscure. This has significantly changed the public’s perception. The approval of a bitcoin ETF has major implications for US investors as they can now hold crypto in their brokerage accounts, something they couldn’t do before.
The approval is expected to catalyze a massive influx of institutional capital into the bitcoin market, which could increase liquidity, reduce volatility, and further legitimize cryptocurrencies in the eyes of traditional investors.
Lol, I don't know where are you living, as the US sport Bitcoin ETF has been approved months ago. And probably this is the reason why we have a new all time high prior to the halving. And that is huge though as this is the first that we have seen it happening. But saying that it will legitimatized Bitcoin itself? Nah, it has been that's why there are a lot of huge investors already in the market since 2017-2018.
As the financial landscape evolves to incorporate this innovative investment vehicle, bitcoin and the broader cryptocurrency space are on the cusp of potentially transformative growth and increased acceptance, marking a pivotal moment in integrating digital assets into the global financial ecosystem.
If bitcoin becomes more widely accepted in more countries, it could potentially boost the price of bitcoin itself.
Again, it has been accepted worldwide, we even had a country like El Salvador who has accepted it as a legal tender. So don't think that just because the Spot ETF has been approved, we are going to be accepted, it has happened already and in the future, adoption could still grow.