Arthur Hayes, co-founder of BitMEX, predicts a surge in demand for Ethereum (ETH) if the U.S. Securities and Exchange Commission (SEC) approves spot ETH exchange-traded funds (ETFs).
ETF Hype Fueling ETH Demand
Hayes believes the massive success of Bitcoin ETFs will pave the way for similar products for Ethereum and other crypto assets. He highlights the record-breaking inflows into Bitcoin ETFs, suggesting that investors are eager for exposure to digital currencies.
Banks’ Influence on ETF Approval
According to Hayes, banks could play a significant role in influencing the SEC’s decision on spot ETH ETFs. He argues that banks would benefit from fees earned on trading these products, making their approval more likely.
Ethereum’s Current Value
At the time of writing, ETH is trading at $3,606. Hayes’ prediction suggests that the price could rise significantly if spot ETH ETFs are approved.
Disclaimer
The opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.
