Tether CEO: Wall Street Investments in Bitcoin ETFs Will Rise

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Bitcoin is set to become further integrated into the traditional financial sector as institutions and corporations show increasing interest in Bitcoin-based ETFs, according to Tether CEO Paolo Ardoino.

According to Ardoino, more and more managers are demonstrating their willingness to allocate a portion of their assets, up to 5%, to invest in digital gold.

The expert also predicts that with further institutional validation, the first cryptocurrency will attract the attention of other corporations, in addition to Tesla and MicroStrategy, as a potential reserve asset. Ardoino believes that the driving force behind this shift could be political uncertainty.

The Tether CEO also acknowledged that regulators will now need to move quickly to establish rules and regulations for digital assets and pointed to the recent example of El Salvador legalizing Bitcoin as a potential blueprint for other countries.

Ardoino commented:

“This is similar to the story of the ETF based on the first cryptocurrency. Initially, anyone who even mentioned the possibility of such an instrument was ridiculed. However, as soon as it became a reality, suddenly everyone wanted to join the Bitcoin movement and launch their own product.”