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​​Spot Ethereum ETF approval 'may be better for Bitcoin' — Michael Saylor

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Saylor argues that the approval of a spot Ether ETF will prompt new investors to recognize crypto as an asset class, yet most of their allocation will still flow towards bitcoin.

“Is this good for Bitcoin or not? Yeah, I think it’s good for Bitcoin, in fact, I think it may be better for Bitcoin because I think that we are politically much more powerful supported by the entire crypto industry,” Saylor told Bitcoin podcaster Peter McCormack on the May 25

“I think mainstream investors will say oh there is a crypto asset class now, maybe we’ll allocate 5% or 10% to the crypto asset class, but Bitcoin will be 60% or 70% of that,” he claimed. Saylor acknowledged his opinion has changed on spot Ether ETFs, given he previously was under the impression that there was a slim chance of SEC approval.

 

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