Sergey Nazarov, co-founder of Chainlink, believes more crypto exchange-traded funds (ETFs) are coming soon. He predicts that ETFs for coins beyond Bitcoin and Ethereum could launch this year.
Ripple CEO Cautious, Ark Invest CEO Skeptical
Ripple CEO Brad Garlinghouse agrees with Nazarov’s optimism but doubts it will happen this year. Ark Invest’s CEO, Cathie Wood, is more skeptical, believing only Bitcoin and Ethereum ETFs will be approved in the US.
Requirements for Other Crypto ETFs
Bloomberg analyst James Seyffart suggests that crypto tokens must be traded on regulated markets like the Chicago Mercantile Exchange to qualify for ETFs.
Potential Impact of Crypto ETFs
Crypto ETFs can:
- Inject new money into the crypto ecosystem
- Increase liquidity
- Raise crypto prices
- Make the crypto market more mature by attracting institutional investors
Pending Ethereum ETF Applications
The approval of pending Spot Ethereum ETF applications by the SEC could pave the way for other crypto ETFs.
