MicroStrategy founder Michael Saylor has said the adoption of a BTC-based spot ETF is a "big milestone" for the cryptocurrency sector.
He has stated during an interview:
"It's a milestone on the road to institutional adoption. I think it's important, but I don't think it drives bitcoin to $5 million overnight."
Saylor has also explained he considers Bitcoin maximalists to be anyone who sees it as an "instrument for economic empowerment."
The former MicroStrategy CEO has repeated his thesis that most altcoins have value signals. In June, he said that most of the US Securities and Exchange Commission (SEC) complaints are related to such tokens.
The race to launch a spot ETF is moving full speed ahead. BlackRock first filed for a spot Bitcoin fund on June 15. While Wisdom Tree, Bitwise, Invesco, Valkyrie and Fidelity soon followed suit by filing similar funds.