Igor Firer, the chairman of KryptoLoop, believes that Bitcoin ETF will become a legal asset due to implementation of different government regulations. It is going to lead to price increase. Was it what Satoshi Nakamoto was going for? He wanted Bitcoin to become global digital currency but it faced several obstacles. It was supposed to be the asset that could be transferred from one user to another without any financial institutions involved.

Bitcoin White Paper

Exchange Traded Funds are business and the volume of this market is 3 trillion USD. Crypto industry is interested in these funds due to taxation and they are going to influence bitcoin price tremendously. The funds will make bitcoin legal asset for trading and exchange.

ETF Will Cause Price Growth

There are 21 million Bitcoins, only 17 million is in circulation, 4 million is lost because their owners do not use them so we have left just 13 million bitcoins. There are also long tern holders. Recent study shows that 40% of investors are going to keep bitcoins for 1-3 years and 44% over 4 years. However, Bitcoin ecosystem is unstable and there are a lot of questions that have to be answer if ETF is approved.