Jeremy Allaire, CEO of Circle, expressed optimism about the potential approval of bitcoin exchange-traded funds (ETFs) during an interview at the World Economic Forum in China. He believes regulators’ concerns will soon be resolved, with progress being made in developing mature market structures to support these financial instruments. Allaire noted the increasing address of past concerns, which increases the likelihood of approval for general investor access to bitcoin ETFs. Asset managers like BlackRock and Invesco have applied for spot bitcoin ETFs with the SEC. Robust market monitoring mechanisms are crucial for approval, as seen in Ontario, Canada, where an established custodial ecosystem was required. The ProShares Bitcoin Strategy ETF experienced a significant weekly inflow of $65 million. Allaire also discussed the demand for digital dollars in developing regions and Circle’s exploration of opportunities in Singapore and Hong Kong. Overall, Allaire’s positive outlook and increasing interest in bitcoin suggest growing momentum toward the approval of bitcoin ETFs, driving mainstream adoption.
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