The impacts of Bitcoin spot ETFs are as follows:

Increased legitimacy: With the approval of spot Bitcoin ETFs, Bitcoin is now viewed as a more legitimate asset class.

More liquidity: ETFs that buy and sell large amounts of Bitcoin based on demand can increase liquidity and help stabilize prices

Price increases: Increased demand and purchases of Bitcoin from these ETFs could drive prices higher in the long run

Lower transaction fees: With increasing adoption of spot ETFs and easier access, investors may be able to acquire Bitcoin at a lower cost

Increased adoption: Bitcoin can be easily acquired through spot ETFs, which can increase adoption

Increased institutional investment: Spot Bitcoin ETFs provide institutional investors with a way to invest in Bitcoin

Correlation with gold: Bitcoin's appeal as digital gold can be seen in its changing correlation with traditional assets like gold

Decoupling from traditional stock indices: Bitcoin's negative correlation with traditional stock indices like the S&P 500 and Nasdaq Composite highlights its growing appeal as a tool for diversification and hedging against market volatility