2024 has been the year of improving trust and investor confidence in crypto with the SEC approval and launch of Exchange-Traded Funds (ETFs) for spot bitcoin (BTC) followed by ether (ETH).
The AUM for spot BTC ETFs has the crossed the $50 billion mark in less than a year as both retail and institutional investors adopted this instrument for exposure to crypto. According to data from CoinGlass, spot BTC ETFs have delivered mostly positive net inflows since their launch.
Divine, ceo of Nibiru, says, “The launch of spot bitcoin ETFs in January ended a decade-long wait. Billions in institutional inflows followed. This was only the beginning.”
Because bitcoin is a volatile asset, and regulatory concerns remain, several TradFi players, especially smaller ones, do not deal directly in spot ETFs. This is one of the remaining barriers to crypto and spot ETFs achieving critical mass.
The SEC’s approval of Options on spot BTC ETFs is a key positive development towards fostering greater adoption, though arguably not as accelerated as the SEC claimed in its filing on September 20.
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Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE) and Chairman of the National Committee for Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations,