According to Altcoin Representative, Europe Will Be the First for Ethereum

Ethereum (ETH) can take an important step forward with exchange-traded funds (ETFs) where proof-of-stake mechanism can be used.

Although the U.S. Securities and Exchange Commission (SEC) has approved spot Ethereum ETFs, it does not allow these funds to stake Ether.

However, dYdX Foundation CEO Charles d'Haussy said, "The US is probably not ready for this yet, but the European market or a neighboring market will give us a path to Ethereum staking ETFs."

ETFs can enable a large amount of funds to flow into the cryptocurrency market thanks to institutional investors. Spot Bitcoin ETFs played an important role in increasing the BTC price.

Answering when the first spot Ethereum ETF will enter the market, d'Haussy said, “Ether ETF launch is close. "We can't wait any longer," he said. Experts expect them to enter the market on July 23.

D'Haussy thinks Ethereum ETFs could attract 25 percent of the total assets managed by spot Bitcoin ETFs. D’Haussy said, “75 percent of the AUM in crypto ETFs will be Bitcoin and 25 percent will be ETH. You ask why? “If I look at smaller-cap ETFs and ETPs launched on European markets, I find this ratio.” said.