William Quigley Predicts Solana and Cardano Could Be the Next Cryptos to Get Their Own ETFs

Following the historic approval of spot Bitcoin ETFs in the United States, the financial market is ready for an increase in similar offerings

With the historic approval of spot Bitcoin ETFs in the United States, the financial market is poised to witness an influx of similar offerings, according to William Quigley, the co-founder of Tether and WAX. In a recent interview, Quigley shared his insights on the expanding landscape of these financial products, fueled by the insatiable “greed” of Wall Street. His projections indicate that, following Bitcoin and Ethereum, cryptocurrencies such as Solana and Cardano may be next in line to have their own ETFs.

“Every time Wall Street packages a new product to sell to consumers, if that product is successful, we can guarantee there will be copycats. There would be no ETFs if the Bitcoin ETF had failed.”

This eagerness to innovate shows no signs of abating. The approval of Bitcoin ETFs earlier this year not only marked a major step in the integration of cryptocurrencies into the mainstream financial market but also generated a significant surge in interest and investments. These funds provide investors with a regulated and accessible exposure to Bitcoin without the need to directly own the cryptocurrency.

Moreover, the wait for Ethereum ETFs has been met with positive signals from regulatory bodies. Quigley suggests that even if interest eventually wanes, the creators of ETFs will swiftly identify the “next thing” to capture the market's attention.

“We will continue to see new ETFs launch until there is a major pullback,” stated Quigley. “So we will see some of these ETFs shut down by the companies that launched them due to lack of demand.”

Meanwhile, Gary Gensler, the president of the SEC, also recently signaled that the approval of Ethereum ETFs could be realized by the end of the summer. This move strengthens the anticipation that other prominent cryptocurrencies may follow a similar trajectory.

However, despite his optimism regarding the popularity of ETFs, Quigley expressed reservations about the increasing involvement of traditional finance in the cryptocurrency space. “I was happy with cryptos without Wall Street,” he confessed. “Would it be smaller? Clear. But I didn’t feel the need to continue increasing the size of cryptos right now.”

Bitcoin, on the other hand, continues its journey of ups and downs, with its price reaching new highs and then experiencing declines. Yet the historical trend suggests an increase in price following events like the halving, and Quigley believes this pattern will continue.

News source：https://www.kdj.com/cryptocurrencies-news/articles/william-quigley-predicts-solana-cardano-cryptos-etfs.html

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