(MT Newswires) -- Beam CEO Andy Bromberg points out that ETFs, while important for industry recognition, do not reflect the essence of crypto, as they represent a financialisation of the asset rather than its practical use. Bromberg likened this to the relationship between gold ETFs and gold jewellery, where the two have distinct roles.

He highlights the importance of developing products that use blockchain technology productively, such as the Beam wallet, which facilitates cross-border payments. Bromberg expresses concern that if the industry focuses solely on the financial aspects, it could neglect to meet the real needs of consumers with useful products.

Finally, Bromberg envisages a potential split among Bitcoin investors between those investing in ETFs and those engaged in building and using blockchain technology. He hopes that ETFs will attract new participants while stressing the need for continued innovation in the industry.

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