The post Bitcoin Spot ETF Will Offer Less Chaotic Entry For Investors: Crypto CEO appeared on BitcoinEthereumNews.com.

The potential introduction of a Bitcoin spot ETF (exchange-traded fund) in the United States has perhaps been the talk of the decade in the cryptocurrency space. While more than a dozen applications await the approval of the US Securities and Exchange Commission, there has been widespread commentary on the potential impact of a spot exchange-traded fund on Bitcoin and the broader crypto market. Cory Klippsten, CEO of Swan Bitcoin, is amongst the latest people to weigh in on how a Bitcoin Spot ETF will affect the crypto landscape, especially the BTC market. Bitcoin Spot ETF Will Transform Market Entry Point: Cory Klippsten In an interview with Bloomberg on Friday, December 1, Cory Klippsten dropped his two cents on the approval of Bitcoin spot ETFs and how it changes the game for the premier cryptocurrency. The crypto CEO said he expects the numerous ETF applications to receive the SEC’s approval in early January. Klippsten believes that an exchange-traded fund changes the story for Bitcoin, especially in terms of gateway or entry for new investors. The Swan Bitcoin executive claims that the entry point for people looking to venture into Bitcoin is somewhat tainted. Klippsten said in a statement: In the past six years from 2017 through 2023, the top of the funnel for people looking to get into Bitcoin has been extremely noisy, polluted by all of the crypto marketing schemes funded by $50 billion of venture capital, trying to essentially market and dump crypto tokens. The crypto CEO believes that a Bitcoin spot ETF would help replace these noisy marketing schemes with programs from the “largest, most trusted financial institutions on the globe.” Furthermore, Klippsten clarified that the exchange-traded fund is a decent investment product that will function similarly to an IOU. He also differentiated a Bitcoin spot ETF from…

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Filed under: News - @ December 3, 2023 12:06 pm