The lack of a staking feature in ether ETFs means less spot conversion, the report said.“ETH should not see as much spot ETH conversion due to the lack of an ETH staking feature in the ETF,” analysts Gautam Chhugani and Mahika Sapra wrote, adding that the basis trade will likely find takers over time and this should contribute to healthy liquidity in the ETF market.
Ether and other digital assets need a “more improved regulatory regime” and Bernstein expects the narrative to improve around the U.S. elections later in the year as the odds of a Republican victory continue to improve and because Trump is now pro-crypto. "Despite the recent pullback in crypto markets the “structural adoption cycle remains intact,” the report added.
Wall Street giant JPMorgan said that spot ether ETFs are likely to see much lower demand than the bitcoin ETFs, noting that the world’s largest cryptocurrency had the first mover advantage and could potentially saturate overall demand for crypto exchange-traded funds, it said in a report last month.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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