Jeremy Allaire CEO of Circle holds an optimistic view regarding Bitcoin ETF approvals

Jeremy Allaire expressed his belief that progress has been made in addressing the regulatory concerns that have hindered the approval of Bitcoin ETFs in the United States.

Jeremy Allaire CEO Of Circle Holds an Optimistic View Regarding Bitcoin ETF Approvals

Jeremy Allaire, co-founder and CEO of Circle, predicts that the recent wave of Bitcoin exchange-traded fund (ETF) applications will ultimately receive regulatory approvals, addressing concerns previously raised by financial observers. He believes that there is a viable path for granting approval to these applications.

“I think progress is being made with more mature market structures that would support something like that,” Allaire said in an interview with Bloomberg.

You have mature spot markets, well-regulated custody infrastructure, and good market surveillance.

Jeremy Allaire

According to the CEO of Circle Jeremy Allaire’s statement, most of the past concerns are currently being addressed. This leads him to believe that the likelihood of approval for Bitcoin ETFs for general investor access is higher.

An Exchange-Traded Fund (ETF) is an investment fund that is traded on an exchange and allows investors to gain exposure to a specific asset or group of assets. A Bitcoin ETF, on the other hand, enables investors to buy and sell shares representing ownership of Bitcoin without directly holding the cryptocurrency.

Bitcoin ETFs have been a topic of interest and speculation within the crypto community for several years and are currently available in some countries such as Canada, Brazil, and Dubai.

According to the latest report by CoinShares, a digital asset management company, the report highlighted the institutional interest focusing on crypto-based investment products.

According to the recent report released by BlackRock, the total assets under management in crypto investment products surpassed $37 billion last week, reaching the highest level this year.

Furthermore, ProShares’ own Bitcoin Strategy ETF (BITO), which tracks the price of Bitcoin and strategically invests in CME Bitcoin Futures, received significant attention. BITO recorded the largest inflow in the United States with $60.4 million and surpassed $1 billion in total assets under management.

About Circle

Circle is a peer-to-peer payment technology company. CEO of Circle Jeremy Allaire and Sean Neville in October 2013. Circle’s mobile payment platform, Circle Pay, enables users to hold, send, and receive traditional fiat currencies. In September 2015, Circle became the first recipient of the BitLicense issued by the New York State Department of Financial Services.