SkyBridge Founder Predicts Bright Wall Street Future for Altcoins Post-Ethereum ETF Approval

IconCryptoNewsTerminal Staff23 Jul, 2024

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SkyBridge Founder Predicts Bright Wall Street Future for Altcoins Post-Ethereum ETF Approval

Anthony Scaramucci, the founder of SkyBridge Capital, recently expressed optimism about the future of altcoins in the wake of the approval of an Ethereum ETF. He believes that this approval opens the door for altcoins to gain traction on Wall Street. Scaramucci predicts that portfolio managers will start to incorporate altcoins into their portfolios. However, he also acknowledges that Ethereum may face challenges due to its lack of a clear narrative compared to Bitcoin. Despite these potential challenges, Scaramucci remains bullish on the long-term prospects for altcoins. He believes that the approval of an Ethereum ETF is a major step forward for the industry and will help to legitimize altcoins in the eyes of institutional investors.

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