Michael Saylor, the Executive Chairman of Microstrategy and a prominent figure in the bitcoin space, recently discussed the implications of the Securities and Exchange Commission's (SEC) approval of a spot ether exchange-traded fund (ETF) on cryptocurrency investment and regulation.

Speaking on the "What Bitcoin Did" podcast hosted by Peter McCormack, Saylor acknowledged his previous belief that bitcoin would be the sole freely available asset for mainstream financial investors. He noted, "The world seemed to be moving towards Bitcoin as the only asset that would be securitized and offered as a spot ETF by the Wall Street establishment, establishing it as the legitimate crypto asset."

However, Saylor recognized that the approval of a spot ether ETF has altered the regulatory and investment landscape, introducing what he refers to as the "crypto asset class." He sees this new asset class being embraced by both political parties in the United States, legitimizing various use cases such as digital trading, digital art, non-fungible tokens (NFTs), and decentralized finance (DeFi).

Despite this development, Saylor remains confident that Bitcoin will maintain its leadership position within this emerging asset class, which he believes will ultimately benefit the broader crypto community. He remarked, "I think it's good for Bitcoin. I think it may even be better for Bitcoin. I think that we are politically much more powerful supported by the entire crypto industry."

Moreover, Saylor suggested that the approval of a spot ether ETF could lead to increased investment allocation in Bitcoin. He speculated that investors might allocate 5% to 10% of their portfolio to this crypto asset class, with Bitcoin comprising 60% of this allocation.