Kraken Exec Says Ethereum ETF Could Attract $1 Billion Per Month

Kraken’s Adoption Is Growing Widely

Crypto exchange Kraken has hinted that an Ethereum ETF will drive inflows from the broader market. In a recent Bloomberg interview, Thomas Perfumo noted that the market is trying to gauge the inflows into the ETF, which are expected to be around $750 million to $1 billion per month.

If the inflows exceed expectations, the likelihood of Ethereum hitting a new all-time high increases, driving another round of positive market sentiment. Responding to reports of the listing, he added that Kraken’s mission is to accelerate the adoption of cryptocurrencies through strategic means. This year, as institutional investments have surged, the adoption of cryptocurrencies has also changed.

Ethereum ETF Expectations Present Bullish Signals

As Kraken executives have said, a spot Ethereum ETF could be the next catalyst for the market to rise. This is because of the price volatility that comes with the milestone progress of approval. After the approval of 19b-4 by the U.S. Securities and Exchange Commission (SEC), ETH prices rose 22%, attracting a large amount of capital inflows into crypto assets.

Perfumo said the US election and US interest rate cuts are also factors driving bullish momentum. Recent US CPI data showed that inflation has cooled in both monthly and annual data, and traditional companies expect interest rate cuts as early as September.

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