Has Bitcoin ETFs Legitimized the Crypto Industry for Investors?

Forbes

Hey folks.

The approval of Bitcoin Spot Exchange Traded Funds (ETF) in the United States in the eyes of investors has legitimized the crypto industry.

The first regulated, publicly traded Bitcoin BTC-based investment vehicles were introduced as a result of the approval of the first spot Bitcoin ETFs in the United States in January.

Furthermore, managing partner of Storm Partners Sheraz Ahmed stated that the introduction of the Bitcoin ETFs has brought about a major change in investor mindset.

I do believe the [Bitcoin] ETF, not from what it is, but from what it means, has had a large effect. And over the past couple of months, we’ve seen an incredible change in mentality.

According to data by Dune, over $55 billion worth of Bitcoin in total onchain holdings have been amassed by the United States Spot Bitcoin ETFs.

In the eyes of mainstream, Bitcoin exchange traded funds have been an important step toward the legitimization of the crypto industry.

But according to Ahmed, the underlying regulatory approval—rather than the publicly traded goods themselves—is what's giving cryptocurrency investors greater peace of mind.

A streak of 20 successive days of net positive inflows broken by the United States Bitcoin ETFs on June 10.

Since then, the Bitcoin ETFs have accumulated net outflows for four days running, with a total of over $152.4 million in net outflows as of June 18, as per data from Farside Investors.

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