Michael Saylor: Approval of a Spot Ethereum ETF Could Be More Beneficial for BTC

Michael Saylor, the founder of MicroStrategy, has shifted his stance on Ethereum spot ETFs (ETH ETF), stating that the recent approval by U.S. regulators is also good news for Bitcoin (BTC).

Michael Laylor in What Bitcoin Did

Michael Saylor’s Latest Perspective

In the May 25 episode of the “What Bitcoin Did” podcast, Saylor shared his views with Bitcoin podcast host Peter McCormack:

“Is this good for Bitcoin? Yes, I think it is good for Bitcoin. In fact, I think it might be better for Bitcoin because I believe we have strong support from the entire cryptocurrency industry politically.”

After the SEC approved eight spot Ethereum ETFs, which are now listed on their respective exchanges, Saylor commented, “These ETFs add an extra layer of protection for Bitcoin.”

Saylor reiterated that the approval of spot Ethereum ETFs would “promote institutional investor adoption,” as investors who were previously on the sidelines would now start to see cryptocurrencies as a legitimate asset class. He further explained that while investors might allocate funds across different cryptocurrency assets, Bitcoin, as the “leader of cryptocurrencies,” would still receive the majority of the capital allocation.

Saylor claimed, “I think mainstream investors will now consider that there is a category of crypto assets. They might decide to allocate 5% or 10% of their funds to this emerging asset class, and within that, Bitcoin could take up 60% to 70% of the allocation.”

Saylor’s Change of Attitude

Saylor acknowledged his previous skepticism about the SEC’s likelihood of approval but noted that his attitude towards spot Ethereum ETFs has changed.

Saylor explained, “Just two weeks ago, Bitcoin seemed poised to become the only securitized spot ETF product offered by Wall Street institutions and the only legitimate crypto asset class.”

Back on May 3, media reports indicated that Saylor expected the U.S. Securities and Exchange Commission (SEC) to classify Ethereum (ETH) as a security, along with several other major cryptocurrencies like BNB, Solana (SOL), Ripple (XRP), and Cardano (ADA).

However, Saylor expressed an opposite view, stating, “These tokens are unlikely to be included in spot ETFs as they are not recognized by Wall Street nor seen as compliant crypto asset classes by mainstream institutional investors.”

Now, Saylor’s change of attitude towards Ethereum ETFs on the “What Bitcoin Did” podcast has drawn widespread attention from the cryptocurrency community.

Bitcoin commercial litigation attorney Joe Carlasare wrote in a May 25 post on X, “This seems to suggest he has somewhat changed his stance.”

Cryptocurrency analyst Ricky Bobby added, “Is the next step for Saylor to buy ETH? This is a significant 180-degree turn. Will Saylor start buying Ethereum next?”


Michael Saylor’s change in attitude towards spot Ethereum ETFs has undoubtedly sparked widespread attention and discussion both within and outside the industry. As the founder of MicroStrategy, his views on the cryptocurrency market have always been closely watched. His latest perspective not only reveals the potential positive impact of spot Ethereum ETFs on Bitcoin but also reflects a rational interpretation of the overall development trend of the cryptocurrency industry.

This shift in viewpoint is not just a statement but a keen capture of market dynamics, reflecting the complex evolution of the cryptocurrency market in terms of regulatory policies and institutional investment. This new trend will undoubtedly bring more attention to the market’s future trajectory and provide investors with more angles for consideration.