May. 10, 2022
The US spot bitcoin decision by SEC most probably has global effects. As the finance capital hub of the globe, the US sets a financial tone for other countries. That means leading by example and with integrity. Bitcoin is a global effort where the US can play a central role. That’s about allowing genuine innovations to thrive and grow. Bitcoin spot ETF serves these purposes. As fair bitcoin growth is allowed, investor protection improves. First, it’s about a functioning regulatory framework. Second, harmful interest groups have a more negligible effect when bitcoin’s market cap goes up. As interested investors can join through bitcoin spot ETF, volatility can dampen over time. All these mean more stability. In other words, investor protection. Let the market perform its function. Its wisdom is hard to beat. Also, true innovation with value grows to the proper size based on market participants’ needs. Bitcoin spot ETF allows numerous participants to be a part of the game. They can freely choose the venue they believe. Together with appropriate governance, that’s a fair functioning market. Regards, Jari Timonen