Kraken Exec: Spot ETH ETF Would Drive Massive Demand for Crypto

IconCryptoNewsTerminal Staff12 Jul, 2024

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Kraken Exec: Spot ETH ETF Would Drive Massive Demand for Crypto

Kraken's chief strategy officer, Thomas Perfumo, believes that a spot Ethereum ETF would significantly boost demand, interest, and capital inflows into the cryptocurrency market. In an interview with Bloomberg, Perfumo noted that the crypto market has been anticipating the potential approval of such a product, with substantial monthly net inflows. He predicts that the launch of a spot ETH ETF could push Ethereum to new all-time highs. Perfumo also commented on the recent U.S. election results, emphasizing that they will shape the policy and regulatory landscape for the next four years. While the House failed to override President Biden's veto on a resolution to overturn the SEC's custody rule for crypto firms, Perfumo remains optimistic about future progress in this area.

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