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Institutional Crypto Adoption Takes a Leap with Ethereum ETFs

July 25, 2024 | Finery Markets

The emergence of a new asset is a once-in-a-life-lifetime opportunity for investors. After the first meltdown, crypto is hot again. TradFi has big plans for it.

The unexpectedly swift approval of Ethereum ETFs by the SEC, marks a new wave of institutional adoption of digital assets. It amplified the effect on the market from the BTC rally and debut of its ETF, launched by TradFi heavyweights like Grayscale and Blackrock.

Renewed optimism is fostering increased cross-flows between institutions and the digital asset sector. BNY Mellon is expanding its digital assets team. State Street has launched new ETFs that provide exposure to digital assets, in partnership with Galaxy Digital. Franklin Templeton is considering launching a new crypto fund targeting tokens beyond Bitcoin and Ethereum.

See more: financemagnates.com