Institutions Eager to Invest Billions in Bitcoin Pending SEC Approval of Spot ETF

Bitcoin faces pent-up demand from institutions awaiting a spot BTC ETF approval, according to Ernst & Young blockchain exec Paul Brody.

Brody says trillions in institutional money is waiting to enter Bitcoin once an ETF is approved.

Investors are buying Bitcoin as an asset, not a payment tool, unlike those buying Ethereum.

Global investors are watching the regulatory process for a Bitcoin ETF by the SEC, which hasn't approved one yet.

Recent amendments to spot Bitcoin ETF filings by ARK Invest and 21Shares are a good sign of progress, per ETF analyst Eric Balchunas.