Former New York Exchange President Tom Farley: Bitcoin is a Safe Haven Asset

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According to Tom Farley, former president of the NYSE and now CEO of Bullish cryptocurrency exchange, the introduction of a spot crypto fund ETF in the American market will lead to a surge of institutional investors in Bitcoin.

Despite its volatility, Farley believes that digital currency is one of the safest assets and the lack of recognition from the SEC as a security makes it attractive for investment.

He emphasized that a significant amount of money will be poured into Bitcoin ETFs due to its accessibility and widespread belief in the potential of the cryptocurrency.

Major financial players such as BlackRock, Fidelity, and Franklin Templeton are also looking to launch crypto funds in the US, due to the growing interest from large capital.