The co-founder and former CEO of BitMEX, Arthur Hayes, shared a prediction recently about the second largest cryptocurrency, the Ethereum, during a recent interview with channel The Wolf of All Streets. In his opinion, Hayes highlighted that he expects an increase in demand for Ethereum, especially if applications for ETH spot exchange-traded funds (ETFs) are approved by the US Securities and Exchange Commission (SEC).
“I think ETH will get a very large supply, especially if these ETFs are approved. And why do I think ETH ETFs and Solana and all these other assets? Because they are making a lot of money. These are the biggest ETF launches in history. ETFs have been around since the mid-90s, starting in the US.
Hayes added by questioning why these types of products cannot be based on other cryptocurrencies, as is the case with Bitcoin. “So we are talking about bigger than SPYs, bigger than QQQs. Just like Bitcoin ETFs, these moms are collecting AUM (assets under management), and some of these guys are not charging fees… So if this is Bitcoin, why not Ethereum, why not Solana, why not any of them ?”.
Hayes also highlighted the possible influence of banks in approving spot ETFs for cryptocurrencies other than Bitcoin. “And guess what, now you can trade a product for which you, as a bank, earn fees? There is no way these ETFs will not be approved… Banks manage everything in all major jurisdictions. And so if the banks want to make money on these things, they will have them.”
Bitcoin and Ethereum ETNs to Debut on the London Stock Exchange in May
In a strategic move aimed at expanding the range of financial products available, the London Stock Exchange (LSE) announced that it will begin offering Bitcoin and Ethereum exchange-traded notes (ETNs) from May 28. This announcement signals a significant step towards the inclusion of digital assets on traditional trading platforms, opening up new avenues for professional investors.
From April 8th, interested entities can now submit their applications to list their Bitcoin and Ethereum ETNs in this new LSE market segment. This early period allows issuers to align with listing requirements and organize the documents required for approval, including a detailed prospectus that must be validated by the Financial Conduct Authority (FCA).
