Altcoins
Sergey Nazarov Says Ethereum ETF Approval Is a Very Clear Sign Other Altcoins Will Follow
Chain link (LINK) co-founder Sergey Nazarov doesn’t think the US Securities and Exchange Commission (SEC) will stop at Ethereum (ETH).
Last week, the SEC approved Form 19b-4 filed simultaneously by BlackRock, Fidelity, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton and Invesco Galaxy, paving the way for Ethereum spot exchange-traded funds (ETFs) in the United States.
Nazarov said The approval indicates that the regulator will greenlight ETF offerings for other crypto assets in the future.
“The launch of the ETH ETF proves a very fundamental hypothesis: the Bitcoin ETF will not be the only ETF or traditional financial market vehicle through which the institutional investor and average consumer can access cryptocurrencies.
This will extend beyond Bitcoin, in this case, to ETH, but I personally think this is really just the beginning. Just as many systems and protocols initially list Bitcoin and ETH and then end up listing a multitude of other tokens, this is truly the trajectory we find ourselves on.
Earlier this year, Chainlink co-founder said the launch of the Bitcoin spot (BTC) exchange-traded funds represented a “watershed moment” for the sector, as they could mark the start of a massive influx of capital from global finance.
“Historically, the way this has evolved is that net new buyers are driving greater adoption and more market cycles. And I think the question to ask is, “Who are the net new buyers in this cycle?” The net new buyers are the global financial system, which is a very large group of net new buyers.
The Bitcoin ETF is an initial offering that allows the global financial system to essentially have investment rails, payment rails and ways to invest capital in cryptocurrency and in Bitcoin within structures that they find it comfortable and normal and something they can do from a point of risk. of sight.”
Don’t miss a beat – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Hodl Daily Blend
& nbsp
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: SLAB-3