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Tether Co-Founder predicts next ETFs after Bitcoin and Ethereum. He claims that Wall Street is too greedy to stop. And that is not so good for crypto. William Quigley told Decrypt this week that he doesn't expect crypto ETF momentum to slow after the approvals of spot Bitcoin and Ethereum funds. According to Quigley, Wall Street's “greed” will bring more and more such products. He named Solana and Cardano as possible next ETFs installations. They will be driven by Wall Street's relentless pursuit of profit. “Every time Wall Street packages a new product to sell to consumers, if that product is successful, you can guarantee there will be copycats. There would be no ETFs if the Bitcoin ETF had failed,” Quigley said. His comments were overall less than flattering for Wall Street guys. They just love 'the next hot thing' because it is easy to sell it to consumers. Once there is a big pullback the trend will lose momentum, Quigley thinks. ETFs are considered to be a true milestone in the history of crypto. Basically, they allow investors to gain profits from Bitcoin without actually holding any crypto. That is as safe and convenient as buying shares of NYSE companies. With recent SEC statements, their is very little doubt that Ethereum ETFs will be approved this summer. Now rumours spread that Solana ETFs are on horizons. So Quigley might be right about the overall trend. Why is Quigley so angry with ETFs? Well, obviously Tether co-founder isn't excited with crypto mainstream adoption because of the increasing involvement of traditional finance in the decentralized space. One of the questions he asks is what is actually going to happen when in time of downturn - and those are inevitable on the crypto market - Wall Street investors will simply pull out. That would be a risk factor that is new for crypto world, and absolutely unpredictable. "I was happy with crypto without Wall Street,” Quigley summarized.

The rise of Bitcoin spot ETFs in the United States has dealt a blow to their European counterparts. Since January, European Bitcoin ETFs have seen net outflows of $500 million, according to Financial Times. This comes despite Bitcoin's 54% price increase, which has spurred global demand. The US ETFs, launched in January, have collectively absorbed $13.6 billion in net inflows. BlackRock and Fidelity's funds, with low management fees of 0.25%, have led the charge. In contrast, Europe's more expensive offerings are struggling to compete. Grayscale's Bitcoin Trust, now an ETF, has lost over half its Bitcoin holdings due to its higher fees. Similarly, Canada's Purpose Bitcoin ETF has seen its holdings drop significantly. European providers are now under pressure to reduce costs to remain competitive. VanEck's European business CEO, Martijn Rozemuller, noted small net inflows for their local Bitcoin and Ethereum ETNs since January. Despite the challenges, European crypto ETPs remain relatively large compared to US spot Bitcoin ETFs. The fee war between US and European funds is set to continue, reshaping the landscape of Bitcoin investment products. The success of US Bitcoin spot ETFs underscores the need for competitive fees and efficient market access. As the market evolves, European funds must adapt to retain their relevance.

The recent approval of Ethereum ETFs by the SEC is a clear signal that more altcoin ETFs will follow, according to Chainlink co-founder Sergey Nazarov. The approval of multiple form 19b-4 filings from major financial players like BlackRock and Fidelity paves the way for Ethereum ETFs in the US market. Nazarov asserts that this regulatory green light is not limited to Ethereum. He believes other crypto assets will soon receive similar approvals, expanding access for institutional investors. "The launch of the ETH ETF shows that the Bitcoin ETF is just the beginning," Nazarov stated. He predicts a future where various tokens, beyond Bitcoin and Ethereum, will be accessible through traditional financial market vehicles. This sentiment echoes Nazarov’s earlier comments on the significance of the spot Bitcoin ETF. He called it a "watershed moment" for the industry, suggesting it would draw substantial capital from global finance into the crypto market. The idea is that the entry of net new buyers from the global financial system could drive significant market adoption. "The Bitcoin ETF is an initial offering that integrates cryptocurrency into the existing financial framework," he explained. This integration is crucial for mainstream adoption and risk management for institutional investors. The approval of the Ethereum ETF marks a critical step in this evolution. It indicates a broader acceptance and a growing willingness among regulators to embrace crypto assets. This move is expected to set a precedent for future altcoin ETFs, potentially leading to a diversified and robust crypto investment landscape. As the crypto market evolves, the introduction of more ETFs could catalyze further growth and mainstream acceptance. Investors and market participants will be watching closely to see which altcoins are next in line for ETF approval.

BlackRock's iShares Bitcoin Trust (IBIT) has cemented its position as the world's largest Bitcoin ETF, amassing $20 billion in assets under management. This milestone underscores the growing institutional interest in cryptocurrency and BlackRock's dominance in the financial markets. IBIT’s rapid ascent is remarkable. Launched with much anticipation, it quickly attracted substantial inflows, outpacing competitors like Fidelity’s Wise Origin Bitcoin ETF. The strong performance of Bitcoin, coupled with BlackRock’s reputation, has driven investors to flock to IBIT, Bitcoin Magazine states. The ETF’s impressive growth has been fueled by record trading volumes. Recently, IBIT set a new single-day trading volume record of $3.8 billion, reflecting heightened investor activity and confidence in Bitcoin’s potential. Analysts have been closely watching IBIT’s performance, noting its significant inflows even amid market volatility. As of the latest reports, IBIT has nearly matched the assets of the Grayscale Bitcoin Trust (GBTC), positioning itself to potentially surpass it in the near future. BlackRock's success with IBIT is also a testament to the increasing acceptance of Bitcoin within traditional finance. The ETF’s performance highlights a shift in sentiment, with more institutional players considering Bitcoin a viable investment asset. This development not only solidifies BlackRock’s leadership in the ETF space but also signals a broader trend of mainstream adoption of digital assets. As Bitcoin continues to gain traction, IBIT’s growth story is likely to inspire further interest and investment in the cryptocurrency market.

Bitcoin spot ETFs have hit a significant milestone, holding over 1 million BTC. As of May 24, more than 30 Bitcoin ETFs collectively own 1,002,343 BTC, worth about $70.5 billion. This represents approximately 5% of the global circulating BTC supply. The surge in Bitcoin spot ETFs, particularly in the U.S., has been remarkable. These funds launched in January and quickly shattered previous ETF launch records. They offer investors a way to gain Bitcoin exposure through traditional investment vehicles, attracting large institutions and retirement accounts. The largest players in this space are the Grayscale Bitcoin Trust and BlackRock’s iShares Bitcoin Trust, each holding around 289,000 BTC. Other notable funds include Fidelity’s Wise Origin Bitcoin Trust with 161,538 BTC and the Ark 21Shares Bitcoin ETF holding 48,444 BTC. First-quarter reports show that over 20% of U.S. spot Bitcoin ETF exposure is held by large investors and institutions, including hedge funds and state pension funds like Wisconsin’s. Bitwise CIO Matt Hougan sees a bright future for Bitcoin ETFs. According to him, ETFs could capture between one and five percent of the U.S. ETF market. And that would be a multi-hundred billion dollar market.