Coinbase Inc. (NASDAQ:COIN) suggested that the approval of spot Bitcoin (CRYPTO: BTC) ETFs in the U.S. could create opportunities for a new class of investors, including institutional investors and retirement funds.
What Happened: The Coinbase report indicates that spot Bitcoin ETF approval could significantly ease the investment process for large institutions and money managers, reported CoinDesk. This could potentially enhance market liquidity and improve price discovery for all participants.
David Duong, head of institutional research at Coinbase, was quoted in the report, “The opportunity is potentially much greater than just enabling new capital to access the crypto market.”
Duong sees a regulatory-compliant investment vehicle as a catalyst for new product development, which could expand the current crypto offerings for accredited investors and promote wider adoption.
See Also: BlackRock ‘Increasingly Confident’ About SEC’s Approval Of Its Spot Bitcoin ETF: Report
The report also highlights the potential of this development to bring billions to the ...