Main navigation

Bitcoin ETF Is Not Most Important Adoption Vector for BTC, Gabor Gurbacs Says

Wed, 07/12/2023 - 17:15
article image
Vladislav Sopov
Amid euphoria around Bitcoin ETF filings by US asset management giants, VanEck's Gurbacs indicates one more important focus area for largest cryptocurrency
Bitcoin ETF Is Not Most Important Adoption Vector for BTC, Gabor Gurbacs Says
Cover image via
Read U.TODAY on
Google News

More and more cryptocurrency experts are sure that the potential approval of a spot Bitcoin ETF by U.S. regulators will trigger another bullish rally and introduce Bitcoin (BTC) to no-coiners. Crypto veteran Gabor Gurbacs shares his own "perspective" on global BTC adoption mechanisms.

Bitcoin ETF journey is great, but focus on developing markets, Gurbacs says

Generations of unbanked individuals and businesses in regions with emerging economies remain the main adoption vector for Bitcoin (BTC), the largest cryptocurrency. Tether and VanEck's advisor Gabor Gurbacs shared this observation today with his 56,000 Twitter followers.

This thesis is worth remembering today, when all eyes are on Bitcoin ETF approval processes. As covered by U.Today previously, a number of top-tier U.S. asset managers filed with SEC for spot Bitcoin-based exchange-traded funds.

BlackRock Re-Files for Bitcoin Spot ETF as BTC Price Approaches 2023 High

BlackRock, the flagship heavyweight of this process, managed to send the second version of its documents to SEC registrars. The same moves were made by Valkyrie, WisdomTree, Fidelity and a couple of their competitors.

Once the spot Bitcoin ETF is approved, wealthy no-coiners will be able to benefit from BTC price swings with no need to store Bitcoin (BTC) physically.

Analysts indicates dozens of ways Bitcoin ETF launch can change game in crypto

In the previous bullish rally, OTC-traded products by Grayscale Investments used to fill the gap between conservative investors and digital currencies.

However, it all might change in the upcoming cycle. As covered by U.Today previously, analysts claimed that the Bitcoin ETF might bring a new generation of users to the crypto sphere.

BlackRock Bitcoin ETF Effects Studied by Top Analysts: Three Outcomes

Also, Ilan Solot, co-head of digital assets at Marex Solutions, opined that this event can rebuild trust in Bitcoin (BTC) as a mature investing asset.

article image
About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)