Former NYSE President Tom Farley Bullish on Bitcoin’s Future

Tom Farley, the former President of the New York Stock Exchange (NYSE) and current CEO of Bullish, expressed his optimistic perspective on the future of cryptocurrencies, specifically Bitcoin, in an exclusive interview with CNBC.

Farley was discussing the possibility that the Securities and Exchange Commission (SEC) would approve a Bitcoin spot exchange-traded fund (ETF).

Farley’s remarks are made amid rumors regarding the SEC’s potential approval of a Bitcoin spot ETF. This development might facilitate institutional investment in the Bitcoin market.

Farley underscored the importance of spot ETF approval during the interview, speculating that it has the potential to transform Bitcoin entirely.

As opposed to the current futures-based ETFs available on the market, he emphasized the advantages of a spot ETF, which would grant investors direct exposure to the underlying asset.

“EBTC is not considered a security by any entity, including the regulatory bodies,” Farley stated. “With a Bitcoin ETF, money will flood into the industry; it’s just that it’s simple to purchase.”

The public has faith in Bitcoin. Bitcoin is a remarkable innovation. A store of value, it is.

Farley, the individual who recently led the acquisition of Bullish, conveyed assurance regarding the enduring prospects of Bitcoin and forecasted a significant influx of capital into the market following regulatory approval of a spot ETF.

The speaker referenced the growing inclination of institutional investors and the broader financial community to acquire Bitcoin via conventional investment vehicles.

“This individual formerly oversaw the New York Stock Exchange; he’s all in on Bitcoin and cryptocurrencies now,” said Joe Kernen, co-anchor of CNBC’s Squawk Box. “That is how they establish the asset class’s credibility.”

Ahead of the SEC’s decision, the former head of the NYSE’s bullish sentiment reflects the increasing optimism regarding the future of Bitcoin and predicts that the approval of a spot ETF could attract a substantial inflow of capital into the market.