Bitcoin may benefit from the adoption of spot ETFs.

The approval of 11 spot bitcoin ETFs by the Securities and Exchange Commission could mark a significant milestone for cryptocurrency investing.

Cathie Wood, CEO and Chief Investment Officer of Ark Invest, has partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF.

Wood stated on "ETF Edge" on Monday that he believes this is a crucial time for them to contribute to the democratization of bitcoin access, allowing more individuals to access it.

The first batch of spot ETFs started trading on Thursday. The demand for these ETFs has been increasing in anticipation of their approval. As of Friday, cryptocurrency has experienced a growth of over 125% in the past year.

As financial firms increasingly become visible through new instruments, Wood predicts that the effect on bitcoin prices will be significant.

Wood stated that if institutions managing trillions of dollars simply allocated 0.2% or 0.5% of their funds, it could significantly impact the outcome.

21.co, the firm founded by Ophelia Snyder, is deeply entrenched in the cryptocurrency industry. As per its website, the company facilitates the seamless integration of traditional finance and decentralized finance, making it easier for individuals to access cryptocurrencies.

The firm's president and co-founder stated to "ETF Edge" that it is a significant component of the emerging wave of disruptive technology.

Snyder contended that bitcoin goes beyond being just a new asset class.

She stated that there is still much to be determined about how the technology will impact the world, the economy, and one's portfolio.

Snyder emphasized the significant impact that increased access to bitcoin could have on the broader market.