Circle CEO Believes Regulators Have Made Progress on Bitcoin ETFs
Jeremy Allaire, CEO and founder of Circle, has commented that the recent filings of Bitcoin ETFs will eventually lead to their regulatory approval because “progress is coming from more mature market structures that will support something like this such as spot markets, regulated storage infrastructure and market oversight.”
Elaborating further, Allaire mentioned that “many of the past concerns are being addressed” which makes the chances of obtaining approval more likely.
CoinShares reported that June had a weekly inflow of $199 million into digital asset investments, the highest since 2022.
Moreover, Allaire reinforced that something like Bitcoin which is a “digital store of value” can serve as an effective hedge against inflation and weakening currencies.
Despite this, the US Securities and Exchange Commission (SEC) has mostly denied applications for ETFs and Grayscale even sued them following a negative response.
