K33 Research: Ethereum will outperform Bitcoin after the launch of Ethereum spot ETF

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Odaily2024/07/03 02:51

By:Odaily

Odaily News K33 Research analysts said that the Ethereum spot ETF is expected to be launched in the United States on July 8, which may enable ETH to outperform BTC in the weeks after going online. K33 Research analysts Vetle Lunde and David Zimmerman said that the ETH ETF is the golden egg for its price, while BTC is facing selling pressure due to the Mt.Gox exchange returning $8.5 billion in BTC to creditors. Although ETH has underperformed BTC in the past year, the inflow of funds into the ETF is expected to boost the price of ETH. Analysts said: We remain optimistic about the prospects for ETH and expect net inflows to be equivalent to 0.75%-1% of the circulating supply of ETH within five months of the launch of the ETF. (Cointelegraph)

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