Chainlink Founder Lauds Bitcoin Spot ETF Approval as 'Legitimizing' Cryptocurrency

IconCryptoNewsTerminal Staff29 May, 2024

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Chainlink Founder Lauds Bitcoin Spot ETF Approval as 'Legitimizing' Cryptocurrency

Chainlink (LINK) co-founder Sergey Nazarov praised the recent approval of a Bitcoin spot ETF as a major step toward legitimizing cryptocurrency. In an interview with CNBC's Crypto World, Nazarov said, "The approval of a Bitcoin spot ETF is a huge milestone for the crypto industry. It shows that regulators are becoming more comfortable with cryptocurrency and are recognizing its potential." The approval of a Bitcoin spot ETF has been a long-awaited event for the crypto community. A spot ETF is an exchange-traded fund that tracks the price of an underlying asset, in this case Bitcoin. This makes it much easier for investors to gain exposure to Bitcoin without having to buy and store the actual cryptocurrency themselves. Nazarov's comments echo the sentiments of many in the crypto community who see the approval of a Bitcoin spot ETF as a major step forward for the industry and suggests that the crypto industry could be getting ready for a big run.

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