Tether CoFounder Suggests Potential Approval of ETF as Next Milestone Post Bitcoin and Ethereum

Tether and WAX co-founder William Quigley stated that the approval of Bitcoin and Ethereum spot ETFs in the United States is expected to boost the crypto ETF market.
Quigley predicts that Wall Street’s pursuit of profits will lead to a surge in ETFs for other leading cryptocurrencies such as Solana and Cardano. He noted that “greedy institutional investors” guarantee the creation of new products as long as they are successful.
The SEC’s approval of the Bitcoin spot ETF, which integrates cryptocurrencies into major financial markets, has sparked significant interest and investment inflow. These ETFs allow investors to gain exposure to assets without directly owning them, making them an easier and more regulated investment tool.
Following the success of the BTC ETF, there is high anticipation for the ETH ETF, with initial exchange-traded funds being approved and expected to start trading by the end of May after their S-1 registration statement is accepted.
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However, Quigley expressed mixed feelings about the increasing involvement of traditional finance in the cryptocurrency space. He acknowledged that while Wall Street’s participation brings in much-needed capital inflow for market development, it also brings risks, especially if institutional investors exit during market downturns.
Despite these concerns, Quigley believes that the excitement surrounding ETFs will ultimately lead to a significant increase in Bitcoin prices, although he hinted that now may not be the time for a surge.