Bitcoin ETF Is Not Most Important Adoption Vector for BTC, Says Gabor Gurbacs – Crypto News – Crypto News
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Bitcoin ETF Is Not Most Important Adoption Vector for BTC, Says Gabor Gurbacs Bitcoin ETF Is Not Most Important Adoption Vector for BTC, Says Gabor Gurbacs

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Bitcoin ETF Is Not Most Important Adoption Vector for BTC, Says Gabor Gurbacs – Crypto News

Published

3 years ago

on

Vladislav Sopov

Amid euphoria around Bitcoin ETF filings by US asset management giants, VanEck’s Gurbacs indicates one more important focus area for the largest cryptocurrency.

Contents

More and more cryptocurrency experts are sure that the potential approval of a spot Bitcoin ETF by US regulators will trigger another bullish rally and introduce Bitcoin (BTC) to no-coiners. Crypto veteran Gabor Gurbacs shares his own “perspective” on global BTC adoption mechanisms.

Bitcoin ETF journey is great, but focus on developing markets, says Gurbacs

Generations of unbanked individuals and businesses in regions with emerging economies remain the main adoption vector for Bitcoin (BTC), the largest cryptocurrency. Tether and VanEck’s advisor Gabor Gurbacs shared this observation today with his 56,000 Twitter followers.

This thesis is worth remembering today, when all eyes are on the Bitcoin ETF approval process. As covered by U.Today previously, a number of top-tier US asset managers filed with the SEC for spot Bitcoin-based exchange-traded funds.

BlackRock, the flagship heavyweight of this process, managed to send the second version of its documents to SEC registrars. The same moves were made by Valkyrie, WisdomTree, Fidelity and a couple of their competitors.

Once the spot Bitcoin ETF is approved, wealthy no-coiners will be able to benefit from BTC price swings with no need to store Bitcoin (BTC) physically.

Analysts indicate dozens of ways Bitcoin ETF launch could change the game in crypto

In the previous bullish rally, OTC-traded products by Grayscale Investments were used to fill the gap between conservative investors and digital currencies.

However, it all might change in the upcoming cycle. As covered by U.Today previously, analysts claimed that the Bitcoin ETF might bring a new generation of users to the crypto sphere.

Also, Ilan Solot, co-head of digital assets at Marex Solutions, opined that this event can rebuild trust in Bitcoin (BTC) as a mature investing asset.

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