ECB officials have expressed skepticism towards Bitcoin, stating it has failed to fulfill its promise as a global decentralized digital currency. They argue that Bitcoin is rarely used for legitimate transfers and that the recent approval of an ETF does not alter its unsuitability as a means of payment or investment.

"Bitcoin has failed on the promise to be a global decentralised digital currency and is still hardly used for legitimate transfers. The latest approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment," two ECB officials wrote in a blog post.

ECB Officials Criticize Bitcoin's Failure to Deliver on Its Promise