Buterin Calls for More Crypto Adoption than Exchange-Traded Funds (ETFs)

ethereum mining power

On 29 July, Vitalik Buterin – a well-known blockchain developer and co-founder of Ethereum (ETH) – talked about the necessity of infrastructures around Ethereum (ETH) and Bitcoin (BTC). He also talked about the need to develop better means for individuals to invest in major digital currencies.

Seamless Means of Buying Digital Currencies

Specifically, the co-founder of Ethereum laid more emphasis on the institutionally-connected exchange-traded funds for Bitcoin BTC. In his post on Twitter, he said that the direction of institutions isn’t where the digital currency industry needs to go.

Rather, Buterin said that the crypto industry needs to direct its attention to practical and real-world applications for cryptocurrencies for individuals on the street, to make digital currency has widely available and accessible as possible, and to make the acquisition of digital currencies as seamless as making a purchase with a debit or credit card today.

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Josh Goodbody’s Comment

In line to this statement by Vitalik Buterin, Josh Goodbody – General Counsel and Huobi UK CCO – also talked about the necessity of institutional investors and related exchange-traded funds for the digital currency industry. He said the digital currency market can’t grow if investors don’t have confidence and trust in the infrastructure they’re using.

He also added that latest news from the SEC that more ETFs for Bitcoin (BTC) are on their way is a “natural development in the digital currency industry.” However, Buterin is more focused on the adoption of digital currencies rather than ETFs.

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But from both arguments, it is obvious that both “adoption” and “ETFs” are very important the fill in the missing gape.

Ethereum (ETH) Price Today – BTC / USD

Name Price24H (%)
Ethereum (ETH)
$209.16
1.3%

At the time of writing, Ethereum (ETH) is changing hands at $450 after a decrease of 2.5 percent over the past twenty-four hours. The market cap of the digital currency is $45.71 billion and its trading volume over the past twenty-four hours is $1.7 billion.


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