Bloomberg Senior Equity Analyst Eric Balchunas The excitement surrounding the spot has been tempered Ethereum The exchange-traded fund (ETF) industry suggests that they could only be able to attract a fraction the amount of investment seen in Bitcoin ETFs.
According to reports, on the 20th of May there was a 75% chance The US Securities and Exchange Commission’s (SEC) approval of an ETF for ETH is a stark contrast to the previous pessimism Around the corner financial instruments.
The news spurred more than a 20% increase in ETH’s price, pushing it above $3,700According to CryptoSlate’s data. IntoTheBlock, a Blockchain analytical platform. pointed out This price surge has benefited 90% of ETH owners.
The following is a list of the most popular ways to contact us bullish trend To some analysts, this led them to forecast significant flows into ETH ETFs. success of BTC ETFs Launched January. These funds are now managing approximately 13 billion dollars in assets since the launch of the spot Bitcoin ETFs. according Farside Investors Data
Balchunas is still skeptical and believes that ETH ETFs will only be able to capture a fraction of investors’ attention. “10-15% of the assets of BTC ETFs.”He commented:
“I think me comparing Ether ETFs following Bitcoin ETFs to a concert where Sister Hazel comes on after Nirvana is probably why a few people [are] coming at me on this and that’s ok. Maybe that was harsh but I still see the Ether etfs getting 10-15% of the assets of the BTC ETFs.”
Fidelity has removed staking
Fidelity also offers a parallel service. submitted an updated S-1 registration statement to the SEC for its proposed Ethereum ETF ahead of key deadlines.
All traces of stakes or staking incentives have been eliminated from the document. The prospectus previously stated that the fund will be able to provide a return of 5%. stake Earn rewards by transferring assets to a service provider.
Analysts believe this change is due to the SEC’s scrutiny of crypto staking. The SEC sued exchanges such as Kraken and Coinbase. staking products Breach of federal securities laws
Balchunas added:
“Looks like you got a final answer as to whether SEC will allow staking: No. As this is first amendment of any document to roll in post-SEC 180 and their comments to issuers yesterday.”
Post Ethereum ETFs may capture only 15% of Bitcoin ETF assets, says Bloomberg analyst First on CryptoSlate.
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Source: cryptoslate.com