What does the passage of Bitcoin ETF mean?
Do you know what ETF means to our crypto industry? In fact, many traditional people know Bitcoin, but they don’t go to exchanges to buy Bitcoin itself. For those of us who have been in this market for many years, will you buy Bitcoin ETF? Most likely not! Because we know how to buy and sell coins through exchanges. You have to know that our industry still has some entry barriers. You have to learn about public chains, cross-chains, private keys, airdrops, and other related knowledge. But with ETFs, these traditional financial players can directly buy ETF shares, which is equivalent to buying funds. The purchasing power of this group of people is equivalent to the incremental funds in the crypto market. If an industry wants to continue to develop, it must need the support of incremental funds. Therefore, ETFs are out-of-the-box for our industry.