According to Cointelegraph, cryptocurrency research firm CoinShares said in a blog post on January 10 that the establishment of a reserve bank in the United States will accelerate the adoption of bitcoin even faster than the launch of an exchange-traded fund (ETF) in 2024. In 2024, US lawmakers introduced the Bitcoin Act, which would direct the US Treasury to buy 1 million BTC over five years to establish a "strategic Bitcoin reserve". President-elect Donald Trump approved the plan, but it has yet to pass into law. "We believe the enactment of the US Bitcoin Act will have a more profound long-term impact on Bitcoin than the launch of an ETF," CoinShares said. CoinShares said "multiple interactions with institutional clients" showed that Bitcoin's "credibility" as an asset class remains a major barrier to institutional adoption.