Tron founder Justin Sun has praised the SEC’s approval of spot Bitcoin ETFs in the U.S. and predicted that China and other Asian markets will follow suit.
Justin Sun, the founder of Tron, a blockchain platform that supports smart contracts and decentralized applications, has celebrated the SEC’s approval of spot Bitcoin ETFs with the crypto community. He greeted the crypto market enthusiasts and spot ETF supporters with “Happy ETF approval day” on the X platform, a social media network that rewards users with cryptocurrency for their content.
Sun also predicted the ongoing crypto trend, foreseeing widespread adoption in Asian markets, especially China, ultimately reaching a global population of eight billion. He said that the SEC’s decision signals a turning point for crypto and the global economy and that China and other Asian countries will not lag behind in embracing the innovation.
On the heels of the SEC’s decision, Johnny Ng, a member of the Legislative Council of Hong Kong, urged the Special Administrative Region (SAR) government to take a pioneering role in the virtual asset industry. He emphasized the importance of swiftly implementing spot Bitcoin ETFs, stating, “The SAR government should promote the implementation of spot ETFs as soon as possible.”
Ng also stressed the need for comprehensive popular education on virtual assets to enhance awareness and reduce the risk of criminal activities associated with them. He said that the SEC’s approval of a spot in Bitcoin ETF is a milestone that attracts attention from global investors and that Hong Kong should seize the opportunity to become a leader in the field.
Investors worldwide are eagerly awaiting similar approvals in their countries, promoting crypto adoption and mainstream finance. This optimism reflects a growing recognition of cryptocurrencies’ potential on the global financial landscape.
