According to executives at Coinbase Institutional, the emergence of spot Bitcoin ETFs in the United States has opened the door for the cryptocurrency to reach a wider audience.
Brett Tejpaul, head of the platform's institutional division, has said:
"I think the most interesting bit that's getting a little bit drowned out by some desire to have headlines is it's the first time crypto can go mainstream. This is like the very moment we've been waiting for. So, for us, it's the next chapter of this asset class."
Representatives of the platform have said in relation to ETFs that more traditional names have appeared on the market in the form of asset managers, which have a significant customer base and demand for the product.
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According to Coinbase's head of institutional product, Greg Tusar, the launch of BTC-based exchange-traded funds has led market participants to "new discussions about how to attract more capital."