Allaire from Circle predicts Bitcoin ETFs approval Bloomberg.

The CEO and co-founder of Circle, Jeremy Allaire, predicts that the new wave of Bitcoin exchange-traded funds (ETFs) will be approved because regulators are addressing past concerns. During an interview with Bloomberg at the World Economic Forum, he stated that he believes progress is being made with more mature market structures that would support products like ETFs. Allaire explained that mature spot markets, well-regulated custody infrastructure, and good market surveillance are being established to address past concerns, making it more likely that these products will be approved for general investor access. Blue-chip asset managers like BlackRock and Invesco have submitted multiple spot Bitcoin ETF applications to the U.S. Securities and Exchange Commission (SEC). Many believe that the creation of a market surveillance mechanism is the key to getting these ETFs approved. ProShares’ Bitcoin Strategy ETF (BITO), a Bitcoin futures fund, recently recorded the highest weekly inflow in over a year, indicating that the asset class still has considerable interest from investors. Allaire also mentioned that Circle is seeing demand for digital dollars in emerging markets, and Singapore regulators and Hong Kong are establishing themselves as significant centers for the digital asset markets and stablecoins.

Edited by Parikshit Mishra.

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