As a seasoned crypto investor with a few years under my belt, I’ve learned that when it comes to predictions in this space, there’s always a healthy dose of uncertainty and unpredictability. The launch of Ethereum ETFs is no exception. I’ve seen firsthand how analysts and pundits can be divided on the potential impact these funds could have on the market.
As a researcher studying the Ethereum market, I’ve noticed that there’s a great deal of debate among analysts and pundits regarding the potential performance of Ethereum exchange-traded funds (ETFs) post-launch.
James Seyffart from Bloomberg expressed that there’s a divided opinion among his audience regarding the potential impact of Ethereum ETFs attracting 20% or more of the assets held by Bitcoin ETFs. While some consider this a bearish sign, others view it as bullish. In essence, Seyffart emphasized that predicting market outcomes with certainty is an elusive task.
JPMorgan, a major player in traditional finance, expects to draw only a minimal portion of the investments that have poured into Bitcoin ETFs this year. Their researchers predict inflows as low as $1 billion. This isn’t good news for Ethereum bulls because the ETF narrative has had a significant impact on the market recently.
Mike Novogratz’s Galaxy Digital holds a more bullish outlook, estimating that half of the investment into Bitcoin ETFs within the next five months could be directed towards these products. Meanwhile, cryptocurrency exchange Gemini anticipates potential inflows of approximately $5 billion for Ether ETFs.
Noteworthy is the underwhelming debut of Ethereum futures ETFs, with trading volumes surprisingly low. However, this may not apply to spot Ethereum ETFs, given the participation of industry giants like Blackrock and Fidelity. Yet, it remains uncertain if they will match the success of their Bitcoin equivalents.
According to U.Today’s report, it is anticipated that the SEC will finish reviewing and giving the green light to multiple Ethereum spot ETF applications this month. These applications were recently submitted with their S-1 forms.
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2024-07-10 23:38