The effects of the spot Bitcoin ETF approval will go far beyond the capital inflows into these investment products, according to Swan Bitcoin CEO Cory Klippsten.
The marketing around the recelty approved spot Bitcoin exchange-traded funds will lead to more capital flowing directly into Bitcoin than that flowing into the ETFs, according to Swan Bitcoin CEO Cory Klippsten. He calls this phenomenon “The ETF multiplier effect.”
“Because of the existence of the ETFs and the credibility of these large financial firms getting into the space and validating it in the eyes of investors [...] A lot more Bitcoin will be purchased through all the other sellers around the world,” Klippsten explained during an exclusive Cointelegraph interview.
Despite capital outflows from the Grayscale Bitcoin Trust (GBTC) putting downward pressure on Bitcoin's price, Klippsten remains extremley bullish in the long term.
