Hedge Funds Front-Running Ethereum ETF Approvals, According to VanEck Analyst

Financial institutions are likely in the process of positioning themselves for the launch of spot Ethereum (ETH) exchange-traded fund (ETF), according to a VanEck analyst.

Matthew Sigel, head of digital assets research at VanEck, says that hedge funds are front-running the approval of ETH ETFs in the US.Sigel cites data from K33 Research showing a large spike in inflows to Ether exchange-traded products (ETPs) out .

Sigel also shares a chart from blockchain analytics firm CryptoQuant showing a downtrend of ETH supply on exchanges, suggesting an accumulation of Ethereum from large players.#BinanceTournament #ETHETFsApproved #BTCFOMCWatch