Bitcoin is officially a legitimate financial asset
The reason for today's crypto pump is the much-needed SEC approval of Grayscale Bitcoin ETF.
The historic event will allow US institutional investors to invest in Bitcoin through a regulated investment vehicle.
Unbelievable but true!
That's a huge win for all the investors of BTC, especially for Grayscale who had long argued that Bitcoin was a legit financial asset. FINALLY the SEC has recognized the growing importance of cryptocurrencies and their potential for the financial market.
Basically, the Grayscale ETF will attracr investments from institutional investors, which surely help support the price of BTC and probably, during the time, help to reduce the volatility (simply because Institutional investors tend to have a longer investment horizon than retail once)
This might also mean "less speculation".
This is the very good news we waited for very long time!
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