Bitcoin ETFs Threaten Crypto’s Most-Important Fundamental: Gimmicks

In this issue of the Bloomberg Crypto newsletter, Chris Nagi reports that new spot-Bitcoin ETFs may threaten the chaos and gimmicks of the cryptocurrency market with extinction.

It has to be a bittersweet day for Bitcoin believers. Not only are they expected to celebrate the industry's occupation by an institutional army with the debut of exchange-traded funds, but today also marks a serious diminishment of the role of what is best termed as inexplicable chaos in calling the cryptocurrency tune.