Coinbase: Spot Bitcoin ETF will bring cryptocurrencies to a wider investor base

Coinbase said in a report on Monday that a spot Bitcoin ETF, if approved in the United States, would open up the cryptocurrency market to new classes of investors, including registered investment advisers (RIAs), retirement funds, and retirement funds who currently cannot access the asset class. and institutions. Additionally, having investment vehicles that meet “key regulatory and compliance requirements may also open the door to new products,” which could augment existing cryptocurrency offerings and expand adoption among accredited investors, the report said. Over the long term, this could add billions of dollars to the total cryptocurrency market capitalization, with the ETF expected to lay the foundation for a “more regulated environment, greater inclusivity and substantial growth in demand.” "The U.S. Treasury market has been shaken and the U.S. banking sector remains very fragile," the report added, making Bitcoin even more attractive in 2024 as an "alternative to the traditional financial system." (CoinDesk)