MATI GREENSPAN: “FOR THE GROWTH OF THE BITCOIN ETF IS NOT REQUIRED”

Mati Greenspan, a senior analyst at eToro, expressed the view that Bitcoin growth does not necessarily require approval of Bitcoin ETFs from the U.S. Securities and Exchange Commission (SEC).

According to the analyst, approval of ETFs for Bitcoin will be only an addition to what has already been achieved by the first cryptocurrency, but will not be a determining factor for the growth of Bitcoin. In addition, Greenspan doubts that the SEC will still solve something with several already filed applications for the launch of funds. He noted that the Bitwise application is the best among them. It should solve the main problems that prevent the approval of ETFs — the issues of market manipulation and fictitious trade volumes.

Note that the SEC has repeatedly postponed decisions on ETF to Bitcoin, citing various reasons for this. The next consideration of the application should be held on May 19 this year. The emergence of Bitcoin ETFs is expected to allow institutional investors to gain access to the cryptocurrency market. Many believe that this will give a new impetus to the growth of the entire industry, as it will pour a lot of money.