Spot Ethereum ETF May Spark Significant Inflows, Says Kraken

IconCryptoNewsTerminal Staff22 Jul, 2024

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Spot Ethereum ETF May Spark Significant Inflows, Says Kraken

Kraken Strategy Head Anticipates Substantial Inflows with Spot Ethereum ETF Kraken's Strategy Head Thomas Perfumo predicts a significant inflow of $750 million to $1 billion per month in the five to six months following the launch of a spot Ethereum ETF. Perfumo believes that an ETF backed by physical Ethereum would validate cryptocurrency as an asset class. He notes that the shift in sentiment towards cryptocurrencies, once dismissed as "rat poison," to being recognized as a legitimate investment option, underscores its growing acceptance. "There's real demand here, and it's no longer something that can be ignored," Perfumo said. The launch of a spot Ethereum ETF could further legitimize cryptocurrencies and boost institutional adoption.

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