The reaction and market sentiment towards Ethereum spot ETFs is somewhat muted in comparison to when Bitcoin products launched earlier this year.
Bitcoin ETFs opened the door for many new buyers to make BTC allocations within their portfolios. However, “the impact of ETH ETFs is a lot less clear-cut,” he said.Kang estimates that the Ethereum ETF flows will be around 10% to 15% of Bitcoin ETF flows, resulting in roughly $500 million to $1.5 billion in true net buying within six months.last week that Fidelity will seed its Ethereum ETF With $4.7 million, so the buying has already begun.
“It is natural that those deep in the crypto space have a relatively high mind share and buy-in of Ethereum. In reality, it has much less buy-in as a key portfolio allocation for many large groups of non-crypto native capital.”is different from Bitcoin’s as the asset is already up 4x from its lows while BTC was up 2.75x before its ETF launches, he added.
However, if BTC increases to $100,000 at the end of this year or early next, it could drag Ethereum and altcoins up with it, he predicted.
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