"I'm really tired of waiting, when do you think the spot BTC ETF will be approved?"
The concept of ETFs is gaining more and more attention in cryptocurrency investment especially in the Ripple (XRP) community following its less frequent trading in the public market for the purpose of gradually accumulating assets.
The inclusion of the ETF could encourage more institutions to invest in digital assets which could lead to a decrease in supply and an increase in demand, thus increasing the price of crypto based on basic economic principles.
However, the Securities and Exchange Commission (SEC) is still slow in approving spot bitcoin (BTC) ETFs but BlackRock is still actively filing spots and now they are focusing on Ethereum (ETH) as well.
The XRP community is also very bullish on the potential for spot implementation of XRP ETFs in the future following the recent fake XRP ETF filings which have further raised the hopes of hardcore investors of the digital asset.
Approving the spot BTC ETF is a milestone in integrating crypto into mainstream finance as it can validate BTC or other digital assets such as XRP as legitimate investment assets thus paving the way for large institutional participation.
It is well known that the influx of institutional investors can lead to greater market stability and liquidity, so here it can be seen that it is an important factor for the long-term viability of crypto adoption.
Not only that, the introduction of BTC ETF can also have a positive impact on the economy where the change is expected to bring more transparency and regulatory clarity which is important for the growth of the crypto market.
There is no doubt that the SEC is concerned about market manipulation, volatility and investor protection in the crypto market, but increasing interest from major asset managers and an evolving regulatory landscape have indicated that approval of spot BTc ETFs may be imminent.
As of this writing, BTC price has fallen by 0.06% to $37,411 in the last 24 hours with a market capitalization of $731 billion while ETH is up over 0.07% at $2,070 and XRP is up 1.53% at $0.62.
