Following the historic approval of spot Bitcoin ETFs in the United States, the financial market is ready for an increase in similar offerings, according to William Quigley, co-founder of Tether and WAX. In a recent interview, Quigley shared his expectations about the continued expansion of these financial products, driven by the well-known “greed” of Wall Street. He predicts that, in addition to Bitcoin and Ethereum, cryptocurrencies like Solana and Cardano could be the next to have their own ETFs.
“Wall Street is greedy,” Quigley said. “Every time Wall Street packages a new product to sell to consumers, if that product is successful, we can guarantee there will be copycats. There would be no ETFs if the Bitcoin ETF had failed.”
This willingness to innovate seems to have no limits. The approval of Bitcoin ETFs earlier this year not only marked a significant milestone for the integration of cryptocurrencies into the mainstream financial market, but also generated a substantial increase in interest and investments. These funds allowed investors to have exposure to Bitcoin in a regulated and accessible way, without the need to own the cryptocurrency directly.
Furthermore, the wait for Ethereum ETFs has been long, with positive signals from regulatory bodies. Quigley believes that even if interest eventually cools, ETF creators will soon find the “next thing” to keep the market’s attention.
“We will continue to see new ETFs launch until there is a major pullback,” stated Quigley. “So we will see some of these ETFs shut down by the companies that launched them due to lack of demand.”
SEC Chairman Gary Gensler also recently signaled that approval of Ethereum ETFs could be finalized by the end of the summer. This movement reinforces the anticipation that other important cryptocurrencies may follow the same path.
However, despite his optimism about the popularity of ETFs, Quigley expressed some reservations about the growing involvement of traditional finance in the cryptocurrency space. “I was happy with cryptos without Wall Street,” he confessed. “Would it be smaller? Clear. But I didn’t feel the need to continue increasing the size of cryptos right now.”
Meanwhile, Bitcoin’s journey continues to be marked by ups and downs, with its price reaching new highs and then experiencing declines. However, the historical trend suggests a price increase following events like the halving, and Quigley believes the pattern will persist.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/cofundador-da-tether-revela-os-proximos-etfs-de-criptos-no-horizonte/
