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Swan Bitcoin CEO Cory Klippsten believes that the introduction of spot Bitcoin exchange-traded funds (ETFs) will have a significant impact on the crypto market. He suggests that these ETFs will help to suppress the loud and flashy marketing strategies that have been prevalent in the industry since 2017. Klippsten argues that these marketing schemes, funded by venture capital, have tainted the market and not all of them have proven to be legitimate. He sees Bitcoin ETFs as a more reliable and regulated entry point for investors, offering an alternative to the risky marketing schemes. In an interview with Bloomberg, Klippsten explains that an ETF functions like an IOU for Bitcoin, representing a paper form of the cryptocurrency. However, unlike futures-based alternatives, ETFs require the firm to back investors by purchasing actual Bitcoin. He believes that ETFs provide a great starting point for people to get into Bitcoin, and if they want to explore further, they can hold more of the cryptocurrency. Klippsten shares the optimism of other crypto analysts who predict that Bitcoin ETFs will be approved in January. He suggests that the window for approval has been narrowed down to January 8th, 9th, or 10th, based on signals from the SEC and industry insiders. This news comes after Standard Chartered, a major bank, forecasted that Bitcoin ETFs will drive the price of Bitcoin up by 165% by the end of 2024. Geoff Kenrick, the bank’s head of EM FX Research, West and Crypto Research, believes that the introduction of US spot ETFs will lead to further price increases before April 2024. Overall, the introduction of Bitcoin ETFs is expected to bring more stability and legitimacy to the market, providing investors with a regulated and reliable entry point into the world of cryptocurrencies.