The co-founder of the BitMEX crypto derivatives exchange Arthur Hayes is offering his prediction on Ethereum (ETH) less than three months after the approval and subsequent listing of spot Bitcoin (BTC) exchange-traded funds (ETFs).
In a new The Wolf of All Streets interview, Hayes says he expects demand for Ethereum to pick up, especially if the U.S. Securities and Exchange Commission (SEC) greenlights applications for spot ETH ETFs.
“I think ETH is going to catch a really big bid, especially if these ETFs are going to pass. And why do I think the ETFs on ETH and Solana and all these other assets? Because they’re making so much f*****ng money. These are like the biggest ETF launches in history. ETFs have been around since the mid-90s starting in the US.
So we’re talking about bigger than SPYs bigger than QQQs. Like Bitcoin ETFs, these mother*****s are raking in AUM (assets under management), and some of these guys aren’t charging fees…
So if this is Bitcoin, why not Ethereum, why not Solana why not any of them?”
The Invesco QQQ ETF tracks the Nasdaq 100 index while the SPDR S&P 500 ETF Trust (SPY) tracks the S&P 500 stock index.
According to Hayes, banks could influence whether spot ETFs for crypto assets besides Bitcoin are approved.
“And guess what, now you can have a product traded that you as a bank earn fees on? There’s no way that these ETFs don’t get approved…
The banks run everything in every single major jurisdiction. And so if the banks want to make money on these things, they will have them.”
At time of writing, ETH is trading for $3,606.
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