As the market awaits the final decision from the US Securities and Exchange Commission (SEC) on the Ethereum spot trading fund, experts believe that these products will attract new investments and interest in the sector.
On July 12, Thomas Perfumo, head of strategy at Kraken, told Bloomberg that Ethereum funds will lift the market.
Ethereum ETF Approval Could Push ETH to New Highs
Perfumo has identified Ethereum ETFs as a major driver for the cryptocurrency industry in the second half of this year. Other factors include the upcoming US elections, potential interest rate cuts, and global adoption of Bitcoin ETPs.
Perfumo said the approval of ETH ETF products would be an important moment for the industry. Note that the funds will bring in capital and renewed interest, benefiting the entire market.
