There has been a lot of murmur in the market the ETF proposal of Winklevoss brothers which was rejected by the SEC, moreover, a lot of such proposals by different enterprises have been rejected by the regulation authorities. The effect of these rejections can be noticed in the manner in which Bitcoin and other currencies faced a slump in the market. However, Ethereum founder has something to say about how there are other things in the market that need to be focused on right now, issues which are more pressing for the future of digital currency.
The co-owner of Ethereum, which is currently giving competition to the eminent Bitcoin, has said that while we are focusing on the ETFs too much, the market and its entities should also focus on the other things such as making it easy for a number of consumers of cryptocurrency to conduct transactions on the day-to-day basis. Moreover, even though an ETF will help with the increasing in the value of prices, it is the adoption of virtual currencies by the masses that is of more importance right now. This comment on twitter received a lot of responses.
The debates that followed had a lot to do with connection of retail and cryptocurrency and what are the other factors that might affect the more prevalent use of cryptocurrency in the market.
It can be concluded that in spite of Buterin stating that ways to propagate the use of cryptocurrency in the market should be undertaken, after careful observation it can be seen that ETF can be one way of doing so. The fact that Ethereum and Bitcoin are not categorized as Securities is working well for both the chances of formation of ETFs as well as for the adoption of this method of transaction by a lot of ordinary citizens. Integration of several salient features of crypto currency can also help with the ambition to add virtual currency in the day-to-day financial transactions. Moreover, if blockchain options are just a click away, than it would be easier for a number of people yet unaware of its mechanisms to learn and thereafter adopt and be included amongst the existing number of users in the market.
The co-founder of Ethereum has given a strong opinion by saying that mass adoption should be the ultimate goal of digital currency, but several steps will have to be taken so that this new sector in the economy ceases to remain on the sidelines and increasing number of economies find it relevant.
