Tom Farley, the former president of the New York Stock Exchange (NYSE), stated in a recent interview with CNBC Television that the approval of Bitcoin Exchange-traded Funds (ETFs) is expected to bring massive amount of capital into the cryptocurrency industry. However, he does not think that the approval of the ETFs will take place as soon as this year. He suggests that the lack of trading exposure and trustworthiness in the underlying prices of the crypto assets is hindering the approval of the ETFs. However, Mr. Farley is optimistic that Bitcoin ETFs may be approved faster due to the fact that everyone, including the regulators, acknowledge that Bitcoin is not a security. He also believes that investing in Bitcoin might be the most effective way to store value, despite its volatility.



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