Swan Bitcoin CEO Cory Klippsten believes that spot Bitcoin exchange-traded funds (ETFs) will revolutionize the marketing strategies used by the crypto industry. In an interview with Bloomberg on December 1, Klippsten emphasized that Bitcoin ETFs provide an alternative entry point into the market, free from the manipulative tactics employed by well-funded crypto marketing schemes. He explained that ETFs function as IOUs for Bitcoin, ensuring that investors are backed by actual Bitcoin. Klippsten sees ETFs as a great way for newcomers to dip their toes into Bitcoin and potentially explore further investment. He also shared the optimistic view that Bitcoin ETFs are likely to be approved in early January, based on signals from the Securities and Exchange Commission (SEC) and industry insiders. This sentiment aligns with Standard Chartered’s recent forecast that Bitcoin ETFs will drive the price of Bitcoin up by 165% by 2024. Geoff Kenrick, the head of EM FX Research at Standard Chartered, suggested that there could be further price increases before April 2024.
Swan Bitcoin CEO implies that Bitcoin's entry point is becoming less chaotic.