Chainlink (LINK) co-founder Sergey Nazarov believes that the recent approval of Ethereum (ETH) exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) is just the beginning. Last week, the SEC approved filings from several major financial institutions, paving the way for spot Ethereum ETFs in the U.S. Nazarov sees this as an indication that the regulator will also approve ETF offerings for other cryptocurrencies in the future.

According to Nazarov, the launch of the ETH ETF demonstrates that the Bitcoin ETF will not be the only vehicle for institutional investors and consumers to access cryptocurrencies. He believes that just like many systems and protocols initially listed Bitcoin and ETH, more tokens will eventually be included in ETF offerings.

Earlier this year, Nazarov referred to the launch of spot Bitcoin ETFs as a “watershed moment” for the industry. He noted that it could attract a massive influx of capital from the global finance sector. The Bitcoin ETF provides the global financial system with investment and payment rails, allowing them to allocate capital to cryptocurrencies and Bitcoin in a way that aligns with their risk preferences.

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