Bill Qian from Cypher Capital suggests that the recent approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) could indirectly benefit the nonfungible token (NFT) ecosystem.
According to Qian, the growing acceptance of Bitcoin in mainstream finance could spark investor interest and curiosity in NFTs, positioning them as alternative assets.
Oscar Franklin Tan, CFO of Atlas Development, sees the ETF approvals as crucial validation for Bitcoin and anticipates a positive impact on NFTs, particularly those on the Ethereum blockchain.
Sergey Sheleg of Nicegram believes the integration of traditional financial structures with crypto is a positive signal for the NFT market, fostering confidence and institutional involvement.
Dirk Lueth, co-founder of Upland, predicts that ETF approvals will reduce perceived risk, complexity, and increase comfort in the NFT space, potentially leading to market growth and regulatory clarity in the U.S.
