Here's what could be the next approved ETFs after Bitcoin and Ethereum, according to Tether's co-founder

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Cryptodnes2024/06/23 00:28

By:Cryptodnes

According to William Quigley, co-founder of Tether and WAX, the approval of spot ETFs for Bitcoin and Ethereum in the US is expected to boost the crypto ETF market.

Quigley predicts , that Wall Street's pursuit of profit will lead to the proliferation of ETFs for other leading cryptocurrencies such as Solana и Cardano . He noted that “greed” of institutional investors guarantees the creation of new products as long as they are successful.

The SEC's approval of the spot Bitcoin The ETF marked a milestone by integrating cryptocurrencies in the main financial markets, causing significant interest and inflow of investments. These ETFs allow investors to gain exposure to the asset without owning it directly, making it a more accessible and regulated investment vehicle.

After the success of BTC ETFs, there is a lot of anticipation for ETH the exchange-traded funds they received initially OK at the end of May and is expected to started to trade after their S-1 registration forms are accepted.

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However, Quigley expressed mixed feelings about the growing involvement of traditional finance in the crypto space. He acknowledged that while Wall Street's involvement brings significant inflows of capital needed to grow the market, it also brings risks, especially if institutional investors pull out during market downturns.

Despite these concerns, Quigley believes that the excitement surrounding the ETF will eventually lead to a significant increase in the price of Bitcoin, although he hinted that the time is not yet right for such a rise.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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