The price of bitcoin has increased more than 150% from this time a year ago, and the CEO of Crypto.com believes inflows into the new spot exchange-traded funds have primarily driven the foremost cryptocurrency's run-up. He also thinks that we're probably in the December 2020 or January 2021 stage of the last cycle, and the current price correction is "healthy."

Speaking to CNBC's Squawk Box, Kris Marzsalek shared his belief that bitcoin's bullish run has been "predominantly driven by the inflows from the Bitcoin ETFs."

"This is a very successful product," he said. "There is a problem of supply, so it has to be reflected in the price."

Indeed, the success of the new spot bitcoin ETF products is hardly up for debate among pundits both inside and outside of the wider crypto industry. On …