Kraken’s Head of Strategy, Thomas Perfumo, predicts that Ethereum ETFs could attract up to $1 billion in monthly investments, potentially pushing Ethereum (ETH) to new price highs and benefiting the wider crypto market.
Perfumo also highlighted the upcoming US elections as a significant factor in the crypto industry’s future. He identified Ethereum ETFs as a key factor for the crypto market’s growth in the latter half of the year, with potential interest rate cuts and the global adoption of Bitcoin exchange-traded products (ETPs) as important drivers.
Perfumo predicted monthly inflows for Ethereum ETFs could range from $750 million to $1 billion, potentially pushing ETH’s price to between $4,000 and $5,000.
The market expects $750 million to $1 billion of monthly inflows to Ethereum ETFs, positively supporting the industry. Perfumo also highlighted the importance of legislative action in the US crypto industry, as it creates regulatory clarity that aids growth.
He mentioned bipartisan support for major regulations like the Financial Innovation and Technology for the 21st Century Act (FIT21) and efforts to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121).
