The world’s largest bank, JPMorganA prediction by. “negative” Market reaction to impending Spot Ethereum ETFs. The bank forecasts a decline in the demand for ETH as compared to Bitcoin.
US Securities and Exchange Commission approved spot Bitcoin ETFs The first was in January. It was an important moment in the history of crypto, as their debut led to BTC reaching a record high price only three months later. JPMorgan does not expect the same success with the second crypto ETF to be launched in the United States.
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JPMorgan Prepares for a Disappointed Ethereum ETF Launch
The finance industry has been dominated by crypto-based ETFs since the start of 2018. There are two tokens that have already been approved, and the market is preparing for more. One notable bank spoke out on the expectations that these investment vehicles face.
JPMorgan recently announced its predictions for the upcoming year. “negative” The market’s reaction to the imminent launch of Ethereum spot ETFs. According to a bank report published recently, ETH will perform below the performance of Bitcoin in the first few months after its launch.
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“The initial market reaction to the launch of Spot Ethereum ETFs is likely to be negative,” According to a report published recently, the analyst Nikolaos PANIGITZOGLOUS said. “We believe that demand for spot Ethereum ETFs would be a fraction of that seen for spot Bitcoin,” Additions to the list include:
Ethereum’s price hasn’t risen much since its approval in this month. According to the Reuters, over the last week, the value of the aset increased only by 2%. CoinMarketCap. Many experts have predicted that Ethereum will reach a record high when the ETF is launched. JPMorgan has warned that Bitcoin’s incredible performance this year should not be a reason to overestimate the market.
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Source: watcher.guru