According to Matt Hougan, the approval of spot Bitcoin ETFs by SEC Chairman Gary Gensler led to $40 billion in inflows and enabled early investors to double their returns (source: Matt Hougan on Twitter, May 20, 2025). This surge in capital has increased demand and liquidity for Bitcoin, driving up its price and impacting crypto market trading strategies. The ETF launch has also set a precedent for regulatory acceptance, encouraging institutional investment and boosting overall crypto market capitalization.