Here's what could be the next approved ETFs after Bitcoin and Ethereum, according to Tether's co-founder
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.
READ MORE:
Crypto and the Fed: How Interest Rate Can Affect the MarketHowever, 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.
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.
You may also like
After the US stock market plummeted, "Wood Sister" Cathie Wood said: The more the market worries, the more optimistic I become, the bull market is not over
As the Nasdaq falls into a correction zone, Cathie Wood ("Sister Wood") stated that the prevailing market anxiety actually makes her more confident in the continuation of the bull market. She attributes this correction to pressures in the bond market and controversies over AI capital expenditures, but emphasizes that the technological revolution is still ongoing. She also revealed that ARK has used the opportunity to increase its holdings in high-conviction positions such as SpaceX, and expects the stock market to perform well through 2027.
After the "Black Week" for tech stocks, Wall Street calls for "bottom fishing"
Morgan Stanley has made it clear that "the next two to three weeks are the time to increase positions." Ed Yardeni characterizes the current downturn as a "correction" rather than the bursting of a bubble. Major Wall Street institutions have an average year-end target for the S&P 500 of 7,973 points. However, most strategists believe that the direction of AI policy remains the largest variable.
CoreWeave writes to Texas governor-elect seeking "data center consultation"
In this open letter, Michael Intrator stated that CoreWeave "strongly supports" Hinojosa's principled position that the growth of data centers must benefit the people of Texas. "We welcome the opportunity to work with your transition team to responsibly advance approved projects and to establish clear and lasting standards for future developments," he said.
Crypto prices
More
