More crypto ETFs incoming

William Quigley, co-founder of Tether and WAX, predicted that the approval of spot Bitcoin and Ethereum ETFs in the U.S. will lead to a surge in similar products for other cryptocurrencies like Solana and Cardano, driven by Wall Street's relentless pursuit of profit. He highlighted that Wall Street's "greed" ensures that successful products will be replicated, although he warned that the momentum might cool, potentially leading to the closure of ETFs with low demand. Quigley expressed mixed feelings about traditional finance's involvement in crypto, acknowledging that while it brings necessary capital for market growth, it also introduces significant risks.

#nostr: npub187mgarrgs47vsz9rv8r343mf6uvd22wucy8v9jytn4aqnsz5j5ks7vs4c2

The SEC's approval of Bitcoin ETFs in January was a significant milestone, allowing investors to gain exposure to Bitcoin without directly holding it, which sparked substantial interest and investment inflows. Anticipation for Ethereum ETFs is high, with SEC Chairman Gary Gensler suggesting approvals might be finalized by the end of the summer. Despite his concerns, Quigley noted that Bitcoin's price typically rises significantly after its halving events, predicting a substantial increase in the future based on historical trends.