VanEck Matthew Sigel is the head of research for digital assets. financial Spots are soon to be launched by institutions Ethereum The US has exchange traded funds (ETFs), which are ETH. pending regulatory approval.
Sigel stated in a post to social media on 18 June that hedge funds were not regulated. strategically positioning As they anticipate that ETFs approval will occur,
K33 Research data shows a marked increase in Ether ETPs outside of the US market, which indicates that big investors are getting ready for regulatory approval for the spot Ethereum ETFs.
Sigel:
The fundamentals of ETH are improving. “Hedge Funds are leading the ETH ETF application approvals. ETH trading is close to an all-time-low. I might be eating BBQ HODL hats by the 4th of July. And you’re bearish?”
CryptoQuant, a blockchain analytics company, reported a downward trend in ETH exchange supply, which indicates that large players are accumulating Ethereum.
‘Open-source App store’
Sigel stated in a recent Bankless Podcast interview that VanEck sees Ethereum as an asset. “open-source App Store,”: positioning it as an more versatile and productive Bitcoin is a relatively new asset.
A broader market in income-producing investments could lead to Ethereum ETFs becoming more popular than Bitcoin.
Sigel argues:
“Overall, there’s a bigger market for income-producing assets than for inert assets like Bitcoin (BTC). It’s not impossible that in a decade, the market for an Ethereum ETF could surpass that of Bitcoin.”
Sigel stressed the importance of educating traditional audiences financial Participants in the market about Ethereum’s significance. He drew analogies to help clarify ETH’s potential, highlighting its productive nature and its ability to allow anyone to create a storefront on its network at a lower cost than major tech companies.
Then he added:
“We think of Ethereum as a productive asset that offers an open-source App Store with integrated payments functionality. We aim to elucidate the mechanics of how Ethereum works and provide a detailed analysis of its profit and loss statements.”
Post Hedge funds betting on SEC greenlighting spot Ethereum ETFs – VanEck The first time that appeared on CryptoSlate.
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Source: cryptoslate.com