Approval of bitcoin ETFs was a"big psychological turning point," reigniting retail trading interest in crypto and bringing in new types of institutions.
McDermott, who sits on the boards of Coin Metrics and HQLAx and advises firms like One River Digital and Elwood Technologies, discussed a number of topics at"The bitcoin ETF obviously has been an astonishing success," McDermott said on stage at the Money Reimagined summit. This has not just recatalyzed retail trading interest in crypto broadly, but has also started to bring in new types of institutions making new types of plays.
"This is a natural progression that ETH will hopefully be approved to be a fully tradable ETF," McDermott said. Whether that"opens the door for everybody else" like Solana"From my vantage point, our clients typically just focus on bitcoin and Ethereum – they're the two products that have tradable futures on the CME. So that's why you can see a positive read . In terms of others, I think we could be positive, but I think it's too early to say.
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