Binance CEO Shares Expectations for Ethereum ETFs

With US Ethereum (ETH) ETFs on the horizon, the big question is what to expect from these listed funds. Richard Teng, CEO of crypto exchange Binance, has also weighed in on the matter. Teng doesn’t expect fireworks, but he does expect a steady inflow of capital.

Don’t expect fireworks

Earlier this month, we reported that spot Ethereum ETFs are “getting closer to the finish line” and could be launching soon. The SEC on July 15 requested that potential ETF issuers submit their final S-1 documents by July 16. Rumor has it that this means the ETFs could launch as early as July 23.

According to Teng, the Ethereum ETFs come at a great time. He notes that the launch builds on the positive momentum of the crypto sector in 2024. The upcoming launch of ETH spot ETFs in the US, he says, marks a major milestone for Ethereum and the crypto sector as a whole.

“While we expect steady capital investment in these ETFs, this is unlikely to be dramatic initially and will fluctuate based on various macroeconomic factors.”

What can we expect?

The Binance CEO does not expect absurd inflows from the launches. However, he does think that these inflows can increase exponentially in the long term. All in all, he calls the Ethereum ETFs an interesting investment option for a wide range of investors.

Of course, it’s hard to say for sure how much capital the Ethereum ETFs will attract. Tom Dunleavy of crypto investment firm MV Global predicted the ETFs could see $5 billion to $10 billion in inflows in the months following their launch.

Such an influx would be wonderful. But as mentioned, this is far from a certainty. The current macroeconomic circumstances are tumultuous and the performance of the Ethereum ETFs will depend on this.

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