CoinShares: The enactment of the U.S. "Bitcoin Bill" will have a more profound long-term impact on BTC than the launch of ETFs

ChainCatcher news, according to Cointelegraph, the cryptocurrency research firm CoinShares stated in a blog post on January 10 that establishing a reserve bank in the United States would accelerate the adoption of Bitcoin, even faster than the launch of exchange-traded funds (ETFs) in 2024.

In 2024, U.S. lawmakers proposed the "Bitcoin Act," which would instruct the U.S. Treasury to purchase 1 million BTC over five years to establish a "strategic Bitcoin reserve." The elected president, Donald Trump, approved the plan, but it has not yet passed into law.

CoinShares stated, "We believe that the enactment of the U.S. Bitcoin Act will have a more profound long-term impact on Bitcoin than the launch of ETFs."

CoinShares noted that "multiple interactions with institutional clients" indicate that the "credibility" of Bitcoin as an asset class remains the primary obstacle to institutional adoption of BTC.