Arjun Sethi, the former CEO of the leading cryptocurrency exchange Kraken, has opined that trillions of dollars could flow into the digital assets market, next benefiting top coins such as Bitcoin, Ethereum, Cardano, Solana, Dogecoin, and Shiba Inu (SHIB). The Ex-CEO spoke at the Wyoming Blockchain Symposium this week, highlighting that institutional funds could begin investing more in the cryptocurrency market.
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He explained that institutional investors are increasingly looking into the cryptocurrency sector as the industry is booming with developments. Sethi stressed that the sector is still in the early stages and traders who hold on for the long term could make phenomenal gains. If institutional funds add another $1 trillion to the market, Bitcoin, Ethereum, Cardano, Dogecoin, and SHIB would be the first to gain.
“The way I like to think about it is that we are just in the really, really early innings of what is going to be trillions and trillions of dollars coming into the ecosystem, building against it, and the value is going to continue to grow,” he said at the cryptocurrency summit in Wyoming. While Bitcoin would be the first to benefit from the influx of funds, other cryptocurrencies like SHIB, Ethereum, and Solana, among others, could gain.
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The Next Influx of Trillions of Dollars Could Benefit SHIB
After stepping out of Kraken, Sethi now Chairs Tribe Capital and has also invested in over 100 blockchain companies. He co-executed Kraken during the first altcoin boom in 2013 and has since become a popular choice for cryptocurrency traders. Kraken was also among the first leading exchanges to list SHIB in 2021, when it gained widespread fame. The platform boasts over 15 million users with a quarterly trading volume of more than $200 billion. A lot of users opened trading accounts in 2021 after Kraken listed Shiba Inu on its platform.