MicroStrategy founder Michael Saylor has changed his tune on an Ethereum spot exchange-traded fund (ETH ETF), arguing that the recent approval from U.S. regulators is also good news for Bitcoin (BTC).

Saylor's latest opinion

Saylor expressed this view to Bitcoin Podcast host Peter McCormack during a May 25 episode of What Bitcoin Did:

"Is this a good thing for Bitcoin? Yes, I think it is a good thing for Bitcoin, in fact, I think it is probably a better thing for Bitcoin because I believe we have strong support politically from the entire cryptocurrency industry."

Following the news that the SEC approved eight spot Ethereum ETFs and listed them on their respective exchanges, Saylor said, “These ETFs add an extra layer of protection for Bitcoin.”

Saylor reiterated that the approval of a spot Ethereum ETF will “facilitate institutional investor adoption” as those investors who previously took a sideline approach will now begin to view cryptocurrencies as a legitimate asset class. He also explained that although investors will allocate funds among different crypto assets, Bitcoin, as the “bellwether of cryptocurrencies,” will still receive the majority of capital allocations.

Saylor claimed, “I think mainstream investors will think that there is a category of crypto assets now, and we may decide to put 5% or 10% of our funds into this emerging asset class, and of that, Bitcoin may account for 60% to 70% of this asset class.”

Saylor's change of attitude

Saylor admitted that his stance on a spot Ethereum ETF has changed, given that he previously thought SEC approval was unlikely.

Saylor explained, “Just two weeks ago, it looked like Bitcoin would become the only securitized spot ETF product offered by Wall Street institutions and the only legitimate crypto asset class.”

As early as May 3, media reports pointed out that Saylor expected the U.S. Securities and Exchange Commission (SEC) to classify Ethereum (ETH) as a security, and several other major cryptocurrencies, including BNB, Solana (SOL), Ripple (XRP) and Cardano (ADA), may also be classified in the same category.

However, Saylor expressed the opposite view, arguing that “these tokens are unlikely to be included in spot ETFs because they are not recognized by Wall Street and will not be considered a compliant crypto asset class by mainstream institutional investors.”

Now, Saylor’s change of attitude towards the Ethereum ETF on the “What Bitcoin Did” podcast has attracted widespread attention in the cryptocurrency community.

“This seems to indicate that he has changed his position a bit,” Bitcoin business litigator Joe Carlasare wrote in a May 25 X post.

Cryptocurrency analyst Ricky Bobby added, “Is Saylor buying ETH next? This is a serious 180-degree turn. Will Saylor start buying Ethereum next?”

Conclusion:

Michael Saylor's change of attitude towards the spot Ethereum ETF has undoubtedly attracted widespread attention and heated discussions inside and outside the industry. As the founder of MicroStrategy, his views on the cryptocurrency market have always attracted much attention. In addition to revealing the positive impact that the spot Ethereum ETF may have on Bitcoin, his latest views also reflect a rational interpretation of the overall development trend of the cryptocurrency industry.

This change in view is not only a statement, but also a keen capture of market dynamics, and also reflects the complex evolution of the cryptocurrency market in terms of regulatory policies and institutional investment. This new trend will undoubtedly bring more attention to the future trend of the market and provide investors with more perspectives to think about. #现货以太坊ETF #MichaelSaylor