Matthew Sigel from VanEck believes big financial players are getting ready for Ethereum ETFs in the US, despite waiting on regulators 🚀
He pointed out on June 18 that hedge funds are strategically positioning themselves, anticipating the green light for these funds.
Sigel mentioned K33 Research showing a surge in investments in Ether ETPs outside the US, suggesting confidence in ETF approval. 📈
He highlighted a decrease in ETH supply on exchanges reported by CryptoQuant, indicating significant accumulation by major investors. 📉
In an interview on the Bankless podcast, Sigel likened Ethereum to an "open-source App Store," emphasizing its versatility over Bitcoin. VanEck sees Ethereum ETFs potentially outpacing Bitcoin ones due to the broader market for income-producing assets. 💡
Sigel stressed the importance of educating traditional finance about Ethereum's potential, explaining its capability to host decentralized apps and streamline payments more affordably than major tech firms. 🌐
"We view Ethereum as a productive asset, offering an open-source App Store with integrated payments. Our goal is to demystify Ethereum's mechanics and provide in-depth analysis," Sigel added.
