Bitcoin ETF: The Institutions’ Need, Not Bitcoin’s
Ben Zhou, the co-founder and CEO of Bybit, has expressed optimism over the approval of a spot Bitcoin ETF. However, he believes that this approval is not a “make or break” scenario for the leading cryptocurrency. In Zhou’s view, it is the institutions that need the ETF, not Bitcoin itself. He points to Bitcoin’s resilience over the past two years, enduring challenges such as bankruptcies, regulatory hurdles, and banking crises. Zhou underlines that Bitcoin’s fundamentals drive its growth.
“The Bitcoin ETF has been a long time coming. But now, with BlackRock and other TradFi juggernauts in the mix, the odds of approval are higher than ever. If approved, the effects will permeate the entire crypto market, bringing not only new money but also a new sense of confidence.” – Ben Zhou
Despite the positive outlook, Zhou acknowledges that there are still unresolved questions surrounding the potential approval of a spot Bitcoin ETF. However, he expresses confidence in Bitcoin’s ability to outperform other assets, regardless of regulatory developments. Zhou adds:
“There are still a lot of questions to be resolved, but we know this much: crypto isn’t too volatile or unregulated to warrant an ETF. The persistence of BlackRock and others indicate Bitcoin’s maturation as an asset class.” – Ben Zhou
