An executive official at asset management firm Grayscale Investments, Dave Lavalle, spoke recently about how the crypto ETF market was at the cusp of expansion.
At a recent webinar of the US SEC, a Grayscale Investments executive spoke at length on the crypto ETF market. The official, Dave Lavalle, underlined how the market for spot crypto ETFs could diversify into new products and indexes. He noted how these diversifications could also be for single asset products. In recent months, with the approvals for the spot crypto ETFs for Ethereum has generated a lot of speculation.
Grayscale is itself an issuer of spot Bitcoin ETFs, and recently in spot ether ETFs as well. Currently, it has over $25 billion in assets under management in these spot crypto ETFs.
Moreover, Lavalle stated, “The path with which we came to regulatory permission to launch Ethereum spot ETPs was quite a sprint and a little bit of a shock when I think the entirety of the market thought that we were going to be faced with denials from the SEC.”
He was referring to the time preceding the approval of the ether ETFs, which was full of mixed signals. The regulatory approvals for the ETFs came as a big bullish catalyst for the crypto market.
At the same time, the executive also spoke on the increasing inflows from the spot Bitcoin ETFs. In recent months, these inflows have played a huge part in influencing the crypto market. A direct correlation has emerged from higher inflows and a rally in Bitcoin’s price, indicating maturity in the ETFs.
Besides, a number of other crypto ETFs are waiting for the green signals from the US SEC. A passageway for the launch of these ETFs could also create new investing opportunities for millions of new investors.
Check out Millionero’s blog for insights on the crypto sector!