in exclusive crypto-coindesk-acquisition-and-bitcoin-etfs.html”>interview On CNBC, Tom Farley, former president of the New York Stock Exchange (NYSE) and current CEO of Bullish, shared his optimistic outlook on the future of cryptocurrencies, particularly bitcoin, following the possible approval of an exchange-traded fund spot bitcoin (ETF) by the Securities and Exchange Commission (SEC).
Farley’s comments come amid ongoing speculation surrounding the SEC’s decision to approve a bitcoin spot ETF, a move that could potentially open the floodgates for institutional investment in the bitcoin market.
During the interview, Farley emphasized the importance of a timely approval of an ETF, stating that it could be a game-changer for bitcoin. He highlighted the appeal of a spot ETF, which would allow investors to gain direct exposure to the underlying asset, unlike the futures-based ETFs currently available on the market.
“Everyone recognizes that bitcoin is not a security, including regulators,” Farley said. “Money will flood the industry with a bitcoin ETF, it’s easy to buy. People believe in bitcoin. bitcoin is a great invention. It’s a store of value.”
Farley, who recently led Bullish’s acquisition of CoinDesk, expressed confidence in bitcoin‘s long-term potential, predicting a substantial influx of capital into the market once a spot ETF receives regulatory approval. He cited growing interest among institutional investors and the broader financial community in gaining access to bitcoin through traditional investment vehicles.
“This guy ran the New York Stock Exchange, now he’s all in on bitcoin and cryptocurrencies,” said CNBC’s Squawk Box co-host Joe Kernen. “They use it as credibility for the asset class.”
As the industry anxiously awaits the SEC’s decision, the former NYSE chief’s bullish sentiment echoes growing confidence in bitcoin‘s future trajectory, signaling the potential for significant capital inflow into the market following the approval of a spot ETF.
