The Bitcoin ETF has become a landmark moment for the cryptocurrency sector, with more people than ever before handed greater access to the world’s largest digital currency.
In the second part (16:12) of a recent episode of iGaming Daily, – sponsored by Optimove – the Payment Expert team discussed how the Bitcoin ETF gained approval to be launched on securities exchanges such as Nasdaq and the New York Stock Exchange to the reluctance of the US Securities and Exchange Commission (SEC).
With Grayscale and BlackRock launching their own Bitcoin ETFs as soon as the approval was granted, the podcast detailed the stability that the regulatory approval will bring as it now presides under US securities law.
The Bitcoin ETF has enabled not only exposure to the crypto market to a mainstream level, but also potentially the essence of why Bitcoin was created in the first place back in 2008.
The Payment Expert team suggests that with more eyes on Bitcoin, it may lead potential investors into doing research on the digital currency and its initial motive for being a pure person-to-person payment method, as opposed to the investment vehicle it has ultimately become at the moment.
Concerns over the Bitcoin ETF were also addressed, such as the detrimental environmental cost of mining Bitcoin which in some cases, the yearly mining carbon emission is greater than that of some countries.
Closing out, whilst the ETF may not mean a great deal for online crypto casinos, such as Stake and RuBet, this may lead to more online betting and gaming firms investigating the potential of Bitcoin and using it as preferred payment method if its popularity soars off the back of the ETF.