Ethereum

Bitcoin

Spot

The debut of US <a href="https://news.todayq.com/back-to-back-bitcoin-etf-approval-will-btc-price-shoot-up/" rel="noopener noreferrer nofollow">exchange-traded funds </a>(ETFs) for Ether is expected to see lower demand as compared to Spot Bitcoin products. This prediction comes in with lower than expected excitement around ETH ETFs despite the gains it recorded since the major approval. Ether ETF might be a flop show 
Big financial institutions such as BlackRock Inc. and Fidelity Investments are set to list Ether ETFs with pending final approval from the Securities and Exchange Commission (SEC). However, JPMorgan Chase analysts are anticipating that this investment product will attract a smaller net inflow.
There are several minor issues that Ethereum faces. Bitcoin ETFs have benefited from a narrative that positions Bitcoin as “digital gold,” a cachet that Ether lacks. Meanwhile. the proposed Ether ETFs will not offer staking rewards for blockchain maintenance.
JPMorgan strategists, led by Nikolaos Panigirtzoglou, projected that Ether ETFs might see modest net inflows. This can be between $1 billion to $3 billion this year. Bloomberg Intelligence Senior ETF Analyst Eric Balchunas had estimated that it might capture only about 20% of the assets held by Bitcoin ETFs in the US. It currently amounts to $62.5 billion.
Vetle Lunde, a senior research analyst at K33 Research, predicts a $4 billion in net inflows for Ether ETFs within the first five months. This is after expecting a “monumental supply absorption shock” that could boost the crypto’s value.&nbsp; But can it make a comeback later? 
VanEck anticipates a favorable market response due to the widespread usage of the Ethereum blockchain. Matthew Sigel, VanEck’s Head of Digital-Asset Research, believes that the potential for application and innovation within its ecosystem could surpass Bitcoin’s.
Ethereum price has jumped by more than 28% in the last 30 days. It is trading up by 69% from its year to date (YTD) price. However, it is trading at an average price of $3,842, at the press time. Its 24 hour trading volume stands at around $14 billion with a market cap of $461 billion.
On the other side, Bitcoin recorded a surge of 12% in the last 30 days. BTC is trading at an average price of $71,442, at the press time. It might move ahead to hit a new all time high. The biggest crypto is holding a market cap of $1.4 trillion.

Why Wall Street thinks Ether ETF won’t match Bitcoin’s success

Todayq News

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