Michael Saylor Says Ethereum ETF Is Good for Bitcoin, Here's Reason

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Michael Saylor, the Bitcoin bull Chairman of MicroStrategy Inc has unexpectedly made a bullish statement regarding spot Ethereum ETFs.

8 spot Ethereum ETF applications were greenlighted by the United States Securities and Exchange Commission (SEC) last week.

From Criticism To Growing Supporter

Earlier in May, Michael Saylor expressed a very strong criticism of Ethereum and other cryptocurrencies below the ‘Bitcoin stack.’ According to Michael Saylor, these digital currencies are investment contracts, adding that assets like Ethereum will never be wrapped in spot Ethereum ETFs.

Three weeks after he made this statement, spot Ethereum ETFs were approved by the US SEC, however, trading is yet to commence.

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