BTCUSD: Pent-up for years, trillions of dollars of institutional

According to a blockchain executive at professional services provider Ernst & Young (EY), Bitcoin is seeing strong demand from institutional investors but is still waiting for Bitcoin spot ETF approval to trigger a buying surge.

EY global blockchain leader Paul Brody believes that Bitcoin is seeing a lot of pent-up demand from institutions due to US regulators not approving spot Bitcoin ETFs for years.

Brody discussed the outlook for cryptocurrency adoption on CNBC's Crypto Decrypted on October 23, claiming that trillions of dollars of institutional money is waiting to join Bitcoin once the BTC ETF is approved.