MicroStrategy founder Michael Saylor has shifted his stance regarding spot Ether (ETH) exchange-traded funds (ETFs), asserting that the recent approval from the U.S. regulator benefits Bitcoin (BTC) as well.

In an interview with Bitcoin podcaster Peter McCormack on the May 25 episode of What Bitcoin Did podcast, Saylor expressed his belief that the SEC's approval of eight spot Ether ETFs on May 23 is ultimately favorable for Bitcoin. He emphasized that this decision strengthens Bitcoin's position politically, with the entire crypto industry rallying behind it as another layer of defense.

Saylor highlighted that the approval of spot Ether ETFs will expedite institutional adoption, as formerly cautious investors acknowledge cryptocurrency as a legitimate asset class. Despite diversifying their investments across various crypto assets, Saylor predicted that Bitcoin will continue to dominate with the majority of allocated capital due to its status as the leading cryptocurrency.

Acknowledging his previous skepticism, Saylor admitted that his opinion on spot Ether ETFs has evolved, especially considering his earlier belief that SEC approval was unlikely. He reflected on his prior prediction that the SEC would classify ETH as a security, along with other tokens like BNB, Solana, XRP, and Cardano, which he believed would never be embraced by mainstream institutional investors.

Saylor's change in perspective did not go unnoticed within the crypto community, prompting discussions and speculation about potential future actions, including the possibility of Saylor investing in ETH.