Spot Ethereum ETF Approval Bolsters Bitcoin's Standing, Says Michael Saylor

Previously skeptical of spot Ether ETFs, MicroStrategy founder Michael Saylor now believes they provide 'another line of defense' for Bitcoin (BTC). The SEC's approval of eight spot Ether ETFs on May 23 is seen as a validation of crypto as a legitimate asset class, likely leading to increased institutional adoption. Saylor predicts that Bitcoin will continue to dominate the crypto market, capturing 60-70% of allocated capital from mainstream investors.