Coinbase country head for Singapore Hassan Ahmed believes the approval of a spot Bitcoin exchange-traded funds (ETF) will be the catalyst for a “structural market change” for the flagship digital asset.
Ahmed made the statement during an appearance on CNBC International on Jan. 2. He said:
“[The ETFs] are as big a deal as people are making it out to be.”
Ahmed added that the ETF hype is more than a mere trend and will create a regulated path for trillions of dollars to come into the industry that has so far been “locked out of the asset class.”
SEC making way for ETF
Ahmed said that the SEC is currently making way for the ETFs, which have been in the works for more than a decade now. He said it is likely that the SEC will give the industry an update by the Jan. 10 deadline.
According to the Coinbase exec, the SEC is unlikely to reject the spot ETFs as its “hand has been forced” by approving the futures Bitcoin ETF in the past. Since the two are similar structurally, t
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