Bitstamp USA CEO Predicts Increased Institutional Adoption in 2024
The CEO of Bitstamp’s US branch, Bobby Zagotta, believes that the crypto industry will experience a surge in institutional adoption next year. In an interview with CNBC Television, Zagotta stated that institutional investors will play a crucial role in the growth of the digital assets industry in 2024. He pointed out that the potential approval of spot market Bitcoin exchange-traded funds (ETFs) is a major catalyst that will attract new investors.
Zagotta emphasized the positive impact of ETFs, stating that they provide an access point for a whole new segment of investors and participants. He also expressed optimism about more blue-chip investors entering the crypto market in 2024, highlighting that institutions are already preparing for increased adoption.
Spot Market BTC ETFs Await Approval
The US Securities and Exchange Commission (SEC) is expected to potentially approve spot market BTC ETFs from firms like BlackRock, VanEck, and ARK Invest in January 2024. This regulatory development could further accelerate institutional adoption of cryptocurrencies.
Hot Take: Crypto Primed for Institutional Growth
The CEO of Bitstamp USA, Bobby Zagotta, foresees increased institutional adoption and onboarding in the crypto industry in 2024. He believes that the potential approval of spot market Bitcoin ETFs will be a key catalyst for attracting new investors. Zagotta highlights the importance of institutions in driving the growth of digital assets and expresses optimism about more blue-chip investors entering the market. With preparations already underway, 2024 could be an exciting year for crypto as it gains broader acceptance from traditional finance.
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