Ethereum Set to Eclipse Bitcoin: ETFs Could Catapult ETH to New Heights — K33 Research
2024年7月4日 - 1:00PM
NEWSBTC
As the global financial markets prepare to launch U.S.-based spot
Ethereum exchange-traded funds (ETFs), Ethereum is positioned to
potentially outperform Bitcoin, according to a new analysis by K33
Research. This comes amid concerns that Bitcoin might face downward
pressure due to upcoming repayments to creditors of the defunct Mt.
Gox exchange. Related Reading: Ethereum’s Breakout Moment: Is a
$7,500 Target Achievable? Experts Weigh In ETF Launch to Begin a
New Era for Ethereum Ethereum has lagged behind Bitcoin in
performance over the last year, with the former surging 67% while
the latter by 95%, but that might be about to change with the
anticipated launch of Ethereum spot exchange-traded funds (ETFs) in
the United States, expected in the coming weeks. Analysts Vetle
Lunde and David Zimmerman from K33 Research suggest that
introducing these spot ETFs could be pivotal for Ethereum’s
valuation. Despite a likely initial dip post-launch, they forecast
that inflows into these funds will propel Ethereum’s price over
time, drawing a parallel to the earlier impact of Bitcoin’s spot
ETFs, which attracted billions of dollars in inflow after launch.
This optimism is rooted in the belief that ETFs will catalyze
significant capital flows into Ethereum, mirroring the influx seen
with Bitcoin. The analysts project net inflows amounting to 0.75%
to 1% of Ethereum’s circulating supply within five months
post-launch, potentially setting the stage for substantial price
appreciation. The analysts noted: ETFs are a solid catalyst for
relative ETH strength as the summer progresses and flows
accumulate, and I firmly view current ETH/BTC prices as a bargain
for the patient trader. When Will ETH Spot ETF Launch In The US?
Despite the analysts’ bullish outlook, the market appears
skeptical, as evidenced by Ethereum futures trading at a discount
relative to Bitcoin futures, as highlighted in the K33 Research.
Related Reading: Experts Eye Spot Ethereum ETF Launch By Mid-July,
Predict Price Rally Ethereum is trading at around $3,312,
reflecting a 3.3% drop over the past day and conceding with the
ubiquitous decline in the crypto market. In the broader context,
the crypto industry is enthusiastic about Bitcoin and Ethereum
ETFs. Nate Geraci, president of The ETF Store, highlighted that
amended S-1 forms for Bitcoin ETFs are due before July 8, with
approvals potentially finalized by July 12, paving the way for a
mid-July launch. Wen spot eth ETF? BBG sticking w/ mid-July.
Amended S-1s due July 8th. Potential final S-1s by July 12th. Would
theoretically mean launch week of July 15th. via @emily_graffeo
@olgakharif pic.twitter.com/NG8xhtCP21 — Nate Geraci (@NateGeraci)
July 3, 2024 Concurrently, Steve Kurz from Galaxy Digital expressed
confidence in a Bloomberg interview that Ethereum ETFs would
receive approval within July, underscoring the structured and
familiar regulatory process drawing from experiences with Bitcoin
ETF applications. Featured image created with DALL-E, Chart from
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