BitMEX Co-Founder Predicts Ethereum Demand Surge with ETF Approval
BitMEX crypto derivatives exchange co-founder Arthur Hayes shares his insights on Ethereum (ETH) shortly after the approval and listing of spot Bitcoin (BTC) exchange-traded funds (ETFs).
During an interview on The Wolf of All Streets, Hayes predicts a surge in demand for Ethereum, particularly if the U.S. Securities and Exchange Commission (SEC) approves applications for spot ETH ETFs.
Hayes expresses his optimism, stating, “I think ETH is going to catch a really big bid, especially if these ETFs are going to pass.”
He emphasizes the potential profitability of ETFs on various assets like Ethereum and Solana, comparing them to historically significant ETF launches such as SPYs and QQQs.
The Invesco QQQ ETF tracks the Nasdaq 100 index, while the SPDR S&P 500 ETF Trust (SPY) follows the S&P 500 stock index.
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Hayes suggests that banks may have a significant influence on the approval of spot ETFs for cryptocurrencies beyond Bitcoin.
He argues, “There’s no way that these ETFs don’t get approved… The banks run everything in every single major jurisdiction. And so if the banks want to make money on these things, they will have them.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
