Then, you can use the Ethereum ETF set to debut next The market will be watching to see how it compares with Bitcoin. BTC is the first cryptocurrency in the United States to be approved for a spot ETF, ending the US Securities and Exchange Commission’s rejection streak.
It is impossible to deny the effect that Bitcoin At its release, it was a market leader. In just three months, the top crypto soared to $73,000 and set a new record. Experts predict that the new crypto ETF may be even better.
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Ethereum ETF Has a Greater Impact Than BTC
Thomas Perfumo’s, Kraken’s, head of strategy told Bloomberg Ethereum ETF is a “rising tide lifts all boats,” situation. He stresses the significance of this arrival and the implications for crypto. Many people have been wondering if Ethereum ETF can have an even bigger impact on the crypto market than Bitcoin.
Matt Hougan is Bitwise Chief Investment Officer who also believes in this potential. When a recent report, Executives highlighted to the market what they could expect. He discussed that this could be the first crypto-based ETF.
“The first few weeks could be choppy, as money may flow out of $11 billion Grayscale Ethereum Trust (ETHE) after it converts to an ETP,” Hougan said. “By year-end, I’m confident the new highs will be in,” He added.
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Hougan then asked about the potential of ETh after discussing Bitcoin and its impact on the markets. “see the same sort of impact,” He replied, saying he thinks it will arrive. He replied that he believes, “It might be bigger.”
“I think the new Ethereum ETPs will attract billions. And I think the money flowing into these new ETPs will have a bigger impact than it did with Bitcoin,” He said. Hougan points out that ETH staking, lower short term inflation rates, and a decrease in the rate of short-term interest all play a significant role. This will be an interesting thing to watch, since crypto may be headed for a massive bull run.
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Source: watcher.guru