Bloomberg analysts: Cash-created Bitcoin spot ETFs may not attract more institutional funds

ChainCatcher news, Max Keiser, a senior advisor to the President of El Salvador, refuted Cathie Wood's statement on the X platform regarding "if a Bitcoin spot ETF is approved, it will attract more institutional investors," claiming that this statement is misleading. All Bitcoin spot ETFs created with cash are merely tools for investors to track BTC prices and cannot acquire actual BTC.

In response, Bloomberg's ETF analyst stated that, in fact, if Bitcoin ETFs can only be created with cash rather than BTC (created with physical assets), then most non-cryptocurrency individuals (especially wealth management institutions controlling $33 trillion in assets) will not take significant action. In fact, they prefer to earn dollars this way; they just want exposure (which indeed gives Cathie Wood an opportunity).