After ETF restrictions are lifted, how far is Bitcoin from becoming a "mainstream asset"?

If we go back ten years, telling Wall Street fund managers that "Bitcoin will have an ETF" might have elicited laughter. Back then, Bitcoin was seen as a geek experiment, and some even regarded it as a "virtual coin" within the internet. But today, the situation is completely different. With Nasdaq removing some ETF restrictions, Bitcoin's financial status has taken another step forward.

Why is the ETF so important? Because ETFs are the tools most familiar to traditional investors. Pension funds, mutual funds, and insurance companies can allocate assets through ETFs without directly holding the underlying assets.

What does this mean? It means Bitcoin can enter larger pools of capital. Here's a simple example: If a pension fund can only buy ETFs, it previously couldn't allocate to BTC. But now, with the rules changed, it has new options.

Of course, many institutions remain cautious. The reason is simple—Bitcoin's volatility is too high. Traditional assets typically fluctuate about 10% per year, while BTC can sometimes swing 30% in a month. For institutions seeking stable returns, such volatility requires time to adapt.

But financial history tells us that every new asset goes through three stages:
First stage: Skepticism
Second stage: Acceptance
Third stage: Adoption

Bitcoin is currently roughly in the second stage. Nasdaq's rule change could accelerate this process. In the coming years, we may see more and more traditional financial institutions start allocating to digital assets. By then, Bitcoin might no longer be considered an "alternative investment," but a regular member of investment portfolios. $BTC ‌#纳斯达克取消比特币ETF限制