Editor's PiCK
"Crypto ETF Demand Surging... Expected to Exceed Precious Metals ETF Size by Year-End"
Summary
- State Street reported that crypto ETFs are expected to surpass precious metals ETFs this year.
- Frank Koudelka stated that crypto ETFs will exceed the size of precious metals ETFs in the US by the end of this year.
- The US SEC is expected to approve various crypto ETFs this year, making it easier for investors to invest.
State Street, a US-based bank, has released an analysis on cryptocurrency ETFs. In particular, it predicted that the assets under management (AUM) of crypto ETFs would surpass those of precious metals ETFs in the US.
According to the Financial Times on the 2nd (local time), Frank Koudelka, Global Head of ETF Solutions at State Street, said, "Demand for cryptocurrency ETFs will surge this year," adding that "by the end of this year, they will exceed the size of precious metals ETFs in the US ($165 billion)." He further added, "According to the data, more institutional investors are showing interest in cryptocurrencies."
He also predicted that the US Securities and Exchange Commission (SEC) would approve various cryptocurrency ETFs this year. Koudelka said, "ETFs for the top 10 cryptocurrencies by market capitalization, including Solana (SOL), XRP, and Litecoin (LTC), will be approved this year," adding that "investors will be able to invest in cryptocurrencies more easily through ETFs."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
