In recent months, the cryptocurrency market has reacted strongly to news regarding Bitcoin-based ETFs. The introduction of these funds has allowed institutional investors to gain exposure to BTC without the need to directly purchase the cryptocurrency. One of the key moments was the approval of the first spot Bitcoin ETF, which contributed to an increase in its price and heightened interest in the entire sector.

Cryptocurrency ETFs can act as a bridge between the traditional financial market and digital assets. They enable greater liquidity while reducing the risks associated with storing cryptocurrencies. However, not everyone is convinced that this is a good solution—some believe that ETFs may lead to greater market manipulation.

An interesting case for analysis is the BTC/USD pair, which has shown significant volatility in recent weeks, partly due to the influx of capital into newly established ETF funds. The question worth asking is: will ETFs strengthen or weaken the decentralization of Bitcoin in the long run?