Bitcoin ETFs, User Experience Drives Adoption – eToro CEO
While the root kriptovalyutnogo adoption has gone last year after the implosions in the industry, the CEO of the trading platform eToro believes that the appeal of exchange-traded funds (ETFs) to institutions and to non-professionals investing through different platforms can easily drive more Bitcoin (BTC). ) adoption.
EToro CEO Yoni Asia recently told Cointelegraph at Abu Dhabi Finance Week that institutions typically have rigid systems and prefer not to build new infrastructure for each asset class. However, for him, products like Bitcoin ETFs are compatible with existing mechanisms, making them easier to enter the market without developing new frameworks. He explained.
“[Bitcoin] ETFs can be a significant driver of adoption. [because] Institutions work in a very strict way. […] They're looking for the same infrastructure, and ETFs are, in many cases, an enabler for people who don't want to manage institutional interest themselves.
Asia added that the presence of a Bitcoin ETF would strengthen Bitcoin's legitimacy in the eyes of institutional investors, which in turn could support the value of the asset as it represents a recognized and institutionalized form of investment.
Bitcoin surpassed $35,000 in October, a price not seen since May 2021, in part due to spot ETF approvals. The leading crypto hovered between $37,000 and $38,000 in market capitalization.
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Meanwhile, Asia says, the ease of investing in Bitcoin through user-friendly platforms and integration into diverse investment portfolios are critical to getting more retail users into the market.
“At the retail level, it's all about the user experience, the simplicity and the ability to embed crypto investments and crypto trading into a broader portfolio,” he said.
“[This] We believe that crypto should be – an investment that is part of a more holistic investment view of investing in the stock markets; […] Production products […] and goods”
A September report from a blockchain research firm found that while global crypto adoption has slowed, lower-middle-income countries — such as India, Nigeria and Ukraine — have seen the most recovery in downstream crypto adoption over the past year.
The study suggests that the numbers, combined with the growing institutional adoption by organizations in high-income countries, are “extremely promising” for crypto prospects.
“I think, in general, the adoption of Bitcoin is because people recognize the importance of an unforgeable, censorship-resistant internet currency,” Asia said. “And that will only grow over time.”
The executive believes that the way some investors do with gold and other commodities will help many people understand why they should stock crypto.
“[Crypto] It is still an emerging Internet product, and we will continue to see an ever-increasing interest in Bitcoin over the next 10 years. I do not doubt that it will go in 10 years [have] High prices and [be] It is the most significant power in the world.
