Web3 in 2024: How the Bitcoin ETF launch will impact DeFi, gaming, trading and more


  • The US SEC has approved 11 Bitcoin-based ETF products for both cryptocurrency companies and mainstream financial funds.
  • News of the launch pushed BTC above $46,000.
  • The Web3 space continues to innovate independently, but could benefit positively from increased awareness of blockchain technology.

One of the most anticipated news in the cryptocurrency space was the launch of ETF, the main investment tool that allows betting on Bitcoin’s price action. So far, there have only been circumscribed opportunities in the form of BTC or Ethereum-based funds on NASDAQ Nordic.

Finally, an attack aimed at the US Bitcoin ETFs was approved slow Wednesday evening. The U.S. Securities and Exchange Commission has approved a total of 11 products. These included the long-awaited Van Eck ETF, as well as a product from Black Rock. Grayscale Capital will also transition from BTC-based stocks to a full exchange-traded ETF.

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The products are hours away from actual launch. Inflow projections range from $55 billion to $100 billion in the first year of the products.

How Bitcoin ETF will affect Web3

Having a cryptocurrency product approved by the US SEC is another milestone for the cryptocurrency industry. The immediate effect of the ETF was to trigger a BTC rally, with prices returning to levels above $46,000.

Cryptocurrency investing has never really been circumscribed because anyone can launch a wallet and acquire coins and tokens. The ETF will also appeal to more established investors who may not be interested in direct cryptocurrency ownership.

However, the ETF’s effects will be second-hand, improving overall optimism and liquidity. With ETH rebounding above $2,400, DeFi will receive a collateral boost and provide recent liquidity.

Web3 innovations even faster

Bitcoin ETF appears about 15 years after the first BTC block was mined. During this time, cryptocurrency innovation has gone through several stages.

Web3 has proven to be one of the best exploit cases for certain types of blockchains. The Web3 space also has a different liquidity pool and a separate economy dependent on users, players and voluntary liquidity providers.

While a BTC ETF may draw more money from pension funds or hedge funds, Web3 aims to grow organically and build the next generation of products.
Unlike ETFs, Web3 is still about self-care and self-ownership. NFTs are evolving from a collection to a digital certification tool for real items.

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