Will Bitcoin ETFs Be The Missing Piece To Going Mainstream? Pantera CEO Thinks So
Portfolio Pulse from Murtuza Merchant
Pantera Capital CEO Dan Moorehead suggests that a spot Bitcoin ETF could fundamentally change access to Bitcoin and positively impact its adoption, unlike previous events such as the launch of CME Futures and Coinbase Inc.'s public listing, which did not significantly expand access. Moorehead likens Bitcoin to gold, indicating that a Bitcoin ETF could have a similar impact on the cryptocurrency market as gold ETFs had on the gold market.
November 22, 2023 | 3:47 pm
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POSITIVE IMPACT
The article suggests that the introduction of a spot Bitcoin ETF could have a positive impact on the cryptocurrency market, which may indirectly benefit Coinbase Inc. as a major player in the crypto exchange space.
While the article does not directly link the potential Bitcoin ETF to Coinbase's performance, the positive sentiment around increased access and legitimacy in the crypto market could lead to more users and transactions on Coinbase's platform, potentially increasing its revenue and stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70