Kraken Strategist Foresees Ethereum ETFs Driving Market Growth
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Thomas Perfumo, Strategy Head at Kraken, emphasized the potential impact of upcoming spot Ethereum ETFs on crypto market dynamics.
In a recent interview with Bloomberg, Perfumo discussed how these ETFs could attract significant inflows, estimating a monthly range of $750 million to $1 billion.
Perfumo noted that market sentiment is currently pricing in these anticipated inflows, which could provide strong support for the industry. He suggested that surpassing these expectations could propel Ethereum towards new all-time highs, echoing positive market sentiment.
Regarding Kraken’s strategic goals, Perfumo highlighted their mission to foster crypto adoption through strategic initiatives, amidst increasing institutional interest this year.
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He pointed out that developments such as the SEC’s approval of 19b-4 have already driven a notable 22% surge in Ethereum prices, further enhancing market inflows.
In addition to ETF developments, Perfumo cited broader economic factors such as upcoming U.S. elections and potential interest rate cuts as contributing to the bullish momentum in the crypto market. He referenced recent U.S. CPI data indicating a slowdown in inflation, aligning with expectations of monetary policy adjustments in the near term.