TD Cowen: More Crypto Funds Will Follow Ethereum ETFs’ Approval

TD Cowen’s research group at investment bank TD Cowen expected the approval of Ethereum ETFs, as it follows the earlier approval of Bitcoin ETFs this year.

Despite the surprise for some, Jaret Seiberg from the bank’s Washington Research Group noted that it was inevitable due to the SEC’s approval of crypto futures ETFs.

The group predicts that within a year, another ETF with a selection of crypto tokens, potentially including Bitcoin and ether, could be offered.

However, this approval does not reflect a change in the SEC’s stance on crypto, as chair Gary Gensler, known for his critical views on crypto, made a negative statement regarding the passing of legislation that could weaken the Commission’s authority.