Binance CEO: Ether Spot ETF Could Bring 'Steady' Inflows

IconCryptoNewsTerminal Staff19 Jul, 2024

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Binance CEO: Ether Spot ETF Could Bring 'Steady' Inflows

The approval of an Ether spot exchange-traded fund (ETF) could bring in more institutional investors, which typically take a long-term approach, which could increase liquidity, according to Binance CEO Richard Teng. In an interview with Cointelegraph, Teng said that while there may not be "dramatic" inflows into ETH spot ETF trading initially, there will likely be "steady" inflows over time. "I think it will be a slow and steady process," Teng said. "But I think it will be a very positive development for the Ethereum ecosystem." The launch of a Bitcoin futures ETF in October 2021 was seen as a major milestone for the cryptocurrency industry. A spot ETF would be a more direct way for investors to gain exposure to the underlying asset, and it could potentially attract even more institutional investment.

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