Ethereum ETFs Could Bring in $1 Billion a Month

In a recent interview with Bloomberg, Kraken’s chief strategy officer Thomas Perfumo predicted that Ethereum ETFs could attract between $750 million and $1 billion in monthly investments.

“Market sentiment is being priced in. I think the market has priced in something like $750 million to $1 billion of net inflows into Ethereum ETF products each month,” Perfumo said.

In the interviewPerfumo noted that if inflows exceed expectations, it could provide strong support to the industry and potentially drive Ethereum to new record highs.

This creates positive support for the industry, if we go beyond that, note that Bitcoin was at a rate above $2.5 billion

He said

Moreover, the hype around Ethereum ETFs has already sparked some optimism among investors. After the SEC approved the 19b-4 filing, Ethereum’s price jumped 22%, attracting investment into crypto assets.

This price movement shows how sensitive the market is to regulatory changes and the growth potential once ETFs are approved.

Perfumo also highlighted other factors supporting current market sentiment, including the upcoming US elections and a potential interest rate cut by the Federal Reserve. Recent US CPI data suggests disinflation on a monthly and annual basis, with some traditional firms predicting rate cuts as early as September.

These broader economic factors, combined with developments in the crypto space, are shaping the overall market outlook.

Regarding Kraken’s strategy, Perfumo highlighted the exchange’s goal of driving cryptocurrency adoption through strategic initiatives. When asked about rumors of Kraken going public, he reiterated that the company’s intention is instead to broaden cryptocurrency adoption.

Read also : Invesco, Galaxy Cut Ether ETF Fees to 0.25% in Competitive Market

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