Swan Bitcoin CEO Cory Klippsten has recommended that spot Bitcoin (BTC) exchange-traded funds (ETF) will suppress the loud and flashy advertising and marketing methods which have served because the preliminary gateway for a lot of into the crypto house since 2017.
During a current interview with Bloomberg on December 1, Klippsten reiterated that Bitcoin ETFs supply an alternate entry into the market at a time when it has been tainted by well-funded crypto advertising and marketing schemes:
“The past six years from 2017 through 2023, the top of the funnel for people looking to get into Bitcoin has been extremely noisy, polluted by all of the crypto marketing schemes funded by $50 billion of venture capital, trying to essentially market and dump crypto tokens.”
He went on to make clear that an ETF features equally to an IOU for the product, differentiating it from a futures-based various. Essentially, it represents a paper type of Bitcoin, but it requires the agency to again buyers by buying precise Bitcoin.
“I believe it is an excellent top of funnel for individuals to get into Bitcoin after which in the event that they need to go somewhat deeper and discover it, and maintain extra,” he acknowledged.
Moreover, aligning with the views of fellow crypto analysts who posit a “clear runway” for Bitcoin ETF approval in January, Klippsten expressed an identical optimism.
“That window appears to have been narrowed to January eighth, ninth, or tenth. It appears to be making so much of sense given all of the alerts that we’ve gotten out of the SEC and people within the know,” he acknowledged.
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This comes after a serious financial institution not too long ago declared that Bitcoin ETFs will drive Bitcoin’s value up by 165% in 2024.
On November 30, banking large Standard Chartered forecasted that Bitcoin should reach six figures by the tip of 2024.
Meanwhile, Geoff Kenrick, Standard Chartered’s head of EM FX Research, West and Crypto Research talked about that the current shift in forecasts suggests the chance of additional value will increase earlier than April 2024:
“We now expect more price upside to materialize before the halving than we previously did, specifically via the earlier-than-expected introduction of US spot ETFs.”
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