Crypto Community Has Different Opinions on ETF
ETFs and SEC have been in the news for quite some time now. The SEC’s clarification of Bitcoin’s and Ethereum’s status - that they are not securities - was welcomed by many. But there are other opinions within the crypto community.
Ethereum co-founder, Vitalik Buterin, believes that the focus should be placed on making cryptocurrency easier for mass adoption. His tweet states:
“I think there's too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores. The former is better for pumping prices, but the latter is much better for actual adoption.”
Many believe that the availability of crypto ETFs could actually make mass adoption happen quicker and easier. When Coinbase concluded an acquisition of Paradex and Toshi in May, this was seen as as a step to encourage more people to use tokens. Jeremy Allaire of Circle draw a parallel with development of dApps. He claimed that intensified building of dApps expanded blockchain adoption and catalyzed the crypto market in 2017.