Money Will Flood Into Bitcoin Once Spot ETF Approval Is Granted Says Former NYSE President

 Contents

• SEC's Bitcoin Decision
• Bitcoin Enthusiasm: Farley's Straightforward View
• Farley's Bitcoin Vision: Optimism and ETF Impact
• NYSE Veteran's Crypto Leap: All In on Bitcoin
• SEC Anticipation
  
   

When asked about the potential approval of a Bitcoin spot exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC), former NYSE President and current CEO of Bullish Tom Farley expressed optimism about the future of cryptocurrency, particularly Bitcoin, in an exclusive interview with CNBC.

SEC's Bitcoin Decision

Farley's remarks come as the SEC deliberates on whether to authorize a Bitcoin spot ETF, a move that may usher in a wave of institutional participation in the cryptocurrency market.

Farley said that the establishment of a Bitcoin spot ETF might be a "game-changer" for the cryptocurrency during the interview. He emphasized the value of a spot ETF over futures-based ETFs since the former would provide investors direct exposure to the underlying asset.

Bitcoin Enthusiasm: Farley's Straightforward View

"Everyone acknowledges Bitcoin is not a security, including the regulators," added Farley. With the introduction of a Bitcoin exchange-traded fund (ETF), a great deal of capital will pour into the sector. Believe in Bitcoin is widespread. To put it simply, Bitcoin is fantastic. The value may be stored in it.

Farley's Bitcoin Vision: Optimism and ETF Impact

Farley, who led Bullish's recent purchase of CoinDesk, has voiced optimism about Bitcoin's future and predicted a large influx of cash into the market if a spot ETF is approved by regulators. He mentioned the growing interest of large financial institutions and other players in the financial sector in buying Bitcoin via more conventional investing channels.

NYSE Veteran's Crypto Leap: All In on Bitcoin

"This guy ran the New York Stock Exchange, he's all in on Bitcoin and crypto now," said co-anchor of CNBC's Squawk Box Joe Kernen. As one of our team members put it, "They use that as credibility for the asset class."

SEC Anticipation

The industry is waiting on the SEC's decision with bated breath, and the former NYSE head's positive mood reflects the rising confidence in Bitcoin's future trajectory by indicating the possibility of a large infusion of money into the market should a spot ETF be approved.