Summary
ETFs are the biggest driver of crypto prices in the near term, with billions flowing into bitcoin funds. Industry experts predict that approval for ETFs holding ether is on the horizon, potentially impacting the asset’s value as well.
Key Points
1. The biggest macro driver of crypto prices in the near term is the ETFs, according to Dan Tapiero from 10T Holdings.
2. Bitcoin ETFs have seen significant success, with $11.6 billion in net inflows in their first 10 weeks on the market.
3. The impact of ETFs on bitcoin could also extend to ether, as the SEC is set to rule on proposed ETFs that would hold ETH by May 23.