BitMEX Co-Founder Arthur Hayes Bullish on Ethereum Amid ETF Excitement

BitMEX co-founder Arthur Hayes recently shared his insights on Ethereum’s future, just months after the approval of Bitcoin spot exchange-traded funds (ETFs). 

In an interview with The Wolf of All Streets, Hayes expressed optimism about Ethereum’s potential, especially if the U.S. Securities and Exchange Commission (SEC) approves applications for spot ETH ETFs. He believes that Ethereum will experience increased demand, comparing potential ETF launches for ETH and other assets like Solana to significant historical ETF launches such as the Invesco QQQ ETF and the SPDR S&P 500 ETF Trust (SPY). 

Hayes noted that the profitability of Bitcoin ETFs could pave the way for Ethereum and other cryptocurrencies, particularly as banks stand to benefit from fees associated with these products. At the time of his comments, Ethereum was trading at $3,606.

Clever Robot News Desk 27^th March 2024