Crypto NewsBitcoinIndustry Leaders Speak on Approval of Ethereum Spot ETFs at Major Financial...

Industry Leaders Speak on Approval of Ethereum Spot ETFs at Major Financial Conference: What Are the Odds?

There were also discussions about Bitcoin and Ethereum at Exchange 2024, where representatives from the financial world attended.

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At the financial services conference Exchange 2024, industry leaders shared their views on the future of cryptocurrencies, specifically Bitcoin (BTC) and Ethereum (ETH) ETFs.

Matt Hougan, Bitwise's Chief Investment Officer, predicts that BTC ETFs will gain secondary momentum in the coming months as they enter national broker platforms. He also commented on Vanguard's current stance on ignoring BTC ETFs, drawing parallels to the company's history:

“There's a bit of irony here because Wall Street was anti-Vanguard when they launched, some even said they were anti-American. Then Vanguard was initially anti-ETF and is now one of the largest ETF issuers in the world. “I mean, I think eventually they'll figure it out and change their minds.”

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Dave Lavalle compared the current state of the crypto market to the ETF market in 2003/2004 and suggested that we could be on the verge of significant growth. Steve Kurz echoed this sentiment, claiming that the ten largest banks will enter the crypto market within the next year, potentially leading to corporate FOMO (Fear Of Missing Out).

The panel also discussed the possibility of an Ethereum ETF launching this year. Hougan believes there is a 50% chance of an ETH ETF launching by May, but thinks the bigger event is what's going on with BTC ETFs. Kurz, on the other hand, took a more optimistic approach, estimating the chance of the ETH ETF to be launched by the end of the year at 75% and declared this period as only the beginning of the crypto asset renaissance.

When asked if he would sue the SEC again if they do not approve the ETH spot ETF, Lavalle replied:

“We'll have to wait and see how it plays out. We'll have to look at the facts. But I see a 50/50 chance of it being approved by May.”

*This is not investment advice.

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