By Stephen Pair, co-founder and CEO of BitPay
With the SEC’s recent approval of a basket of spot Bitcoin ETFs from some of the world’s largest asset managers and financial institutions, the crypto asset class has now become mainstream. More investors have access to Bitcoin and crypto than ever before. Prices of the top coins by market cap have also seen strong upward momentum over the last 12 months.
All of this has significant implications for the future of crypto as a medium of exchange. Crypto payments have historically become more commonplace during bull markets. While ETF investors will not hold Bitcoin in personal wallets, accessibility and awareness will dramatically increase. Coupled with a significant boost in investor confidence and institutional acceptance, this sets the stage for a wave in adoption of cryptocurrency purchases, the embrace of self-custody wallets, and eventual integration of crypto payments into everyday transactions.
Bitcoin ETFs: a positive signal for crypto adoption
Now that there is less regulatory uncertainty, it’s not unreasonable to anticipate that payments during this bull market cycle could exceed expectations. While crypto payments were once considered to be somewhat of a fringe, niche specialty that might attract a particular customer base, that base has now expanded.
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