How Bitcoin will benefit from Ethereum ETFs. Michael Saylor explains
Last Thursday saw the first Ethereum ETFs
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have been approved in the United States. This is an important step in the development and acceptance of altcoins. Michael Saylor, a well-known Bitcoin supporter
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, believes that this event will also benefit Bitcoin.
Benefits of an Ethereum ETF for Bitcoin
Michael Saylor, CEO of MicroStrategy, joined the “What Bitcoin Did” podcast and discussed the approval of #ETF Ethereum. In his opinion, the emergence of these funds will be beneficial for Bitcoin. Saylor believes that the Ethereum ETF will increase the legitimacy of the entire cryptocurrency industry, which will also benefit Bitcoin.
“Yes, I think it will be good for Bitcoin,” Saylor said. According to him, Bitcoin is politically stronger and supported by the entire cryptocurrency industry. New Ethereum ETFs will accelerate institutional adoption of cryptocurrencies, which will increase investment in Bitcoin as a market leader.
Institutional Adoption of Cryptocurrencies
Saylor predicts that financial institutions will now be more willing to allocate capital to cryptocurrencies. “Mainstream investors can now allocate 5% or 10% of their portfolio to cryptocurrencies, and Bitcoin will make up 60% or 70% of that amount,” he explained.
Since the approval of ETF #Ethereum , there has been speculation about additional cryptocurrencies that may receive their own ETFs. Analysts predict that #XRP and #Solana
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they could be next in line in 2025. Saylor remains skeptical of other cryptocurrencies, but his previous misconception about Ethereum shows that he may be wrong.
