Following the Blackrock application, a Bitcoin spot ETF was never so close to being approved and it could be a game changer for the crypto industry, explains ETF analyst Eric Balchunas.

$30 trillion worth of capital could suddenly unlock for the Bitcoin market if a Bitcoin spot ETF is approved by the U.S. Securities and Exchange Commission, according to Bloomberg ETF analyst Eric Balchunas.

That is the estimated amount of assets controlled by financial advisors in the U.S., who would be willing to get exposure to Bitcoin through a regulated exchange-traded fund.

"ETF is the format in which the boomers and the financial advisors prefer their investments delivered in”, Balchunas explained in an exclusive Cointelegraph interview.

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