Richard Teng CEO Binance
Binance CEO Richard Teng emphasized that over time, the Spot Ether ETF could provide a stable and large flow of cash.
Bitwise Chief Compliance Officer Katherine Dowling said on July 10 that spot Ether ETFs are “close to the final stages,” indicating that they could go live very soon. The CEO claims that there is little disagreement in correspondence between the US Securities and Exchange Commission (SEC) and ETF issuers.
In order to open the new funds on July 23, the SEC requested on July 15 that issuers submit their final S-1 filings by July 16.
Many shared their predictions on the potential performance of new ETH investment vehicles, as ETFs are set to launch shortly.
ETFs for cryptocurrencies may not seem “dramatic” at first
Tom Dunlevy, managing partner at cryptocurrency investment firm MV Global, estimated in an earlier conversation that the Spot Ether ETF could see $5–10 billion in investments in the months following its launch. The executive thinks this will help ETH and push the price of the cryptocurrency asset to record highs.
The CEO of Binance thinks there’s a chance it won’t have as big of an initial impact as some people think. Teng responded to Cointelegraph in writing, stating:
“While we expect stable capital inflows into these ETFs, this is unlikely to be a dramatic change initially and will fluctuate depending on various macroeconomic factors.”
Teng believes that the liquidity of these ETFs could increase dramatically. According to the executive, institutional investors, who often consider long-term investments, will gain access to approved ETFs.
Teng continued, “Over time, this institutional involvement could provide a stable and substantial influx of capital.”
Binance CEO Richard Teng Spots on Ether ETF
Teng further stated that the new development “builds on the positive momentum” that the space experienced in 2024. The executive stated that this strengthens the validity and accessibility of cryptocurrency. Teng said:
“The upcoming launch of ETH spot ETF trading in the U.S. is another important milestone for Ethereum and the broader digital asset market.”
Similar the spot Bitcoin ETF launched in January, Teng thinks the initial wave of spot Ether ETFs could provide more options for a wider spectrum of investors. According to the Binance CEO, the launch of the ETF removes major concerns about security, compliance, and legality, making ETH a more alluring investment choice in general.
