eToro CEO Yoni Assia emphasized the importance of ETFs in the adoption of cryptocurrencies by institutional investors during the Abu Dhabi Finance Week. According to Assia, large companies do not want to develop new systems for every new asset class, and ETF approvals will provide these companies with easy, secure, and attractive investment opportunities.
Assia stated that the legitimacy of this asset class will increase with the approval of Spot Bitcoin ETFs, allowing institutions to enter this field more easily. Many companies include various ETFs and investment branches in their balance sheets as a precaution against potential risks, and find it very easy and preferable to buy and hold these assets in the form of ETFs.
According to a report published by blockchain research firm Chainalysis in September, although the global adoption rate of cryptocurrencies is slowing down, interest is increasing in densely populated low-to-middle-income countries such as India, Nigeria, and Ukraine. In high-income countries, there is an increase in institutional adoption.
Regarding the adoption of Bitcoin, Assia stated that cryptocurrencies are a developing internet commodity and that Bitcoin interest will continue to grow over the next decade. He expressed his belief that Bitcoin will reach higher prices in the next ten years and become a more significant force in the world.
Assia pointed out that the increase in adoption rate is due to the need for a resilient currency, and most investors are still being directed to this field with the motivation of speculative gains and rapidly growing their capital. Interest in worthless and non-value-generating tokens is also due to this reason.
