The Block16 minutes ago

Published on January 11, 2024 02:53 GMT+00:00edited on January 11, 2024 02:54 GMT+00:00

Prominent figures in the crypto industry have expressed optimism about increased crypto adoption and a more mature crypto market following the U.S. approval of spot bitcoin ETFs, while analysts warned about potential risks related to bitcoin price volatility.

Anthony Scaramucci, former White House communications director and now founding and managing partner at SkyBridge Capital, said in a statement shared with The Block that the approval of spot bitcoin ETFs signifies the recognition of bitcoin as a “legitimate asset.”

“We believe this approval will pave the way for greater mainstream education and acceptance around the merits and utility of blockchain-based assets and infrastructure,” Scaramucci added.

The Securities and Exchange Commission today announced the approval of spot …