Will Canny is CoinDesk's finance reporter.
JPMorgan said it expects spot ether ETFs to attract as much as $3 billion of net inflows for the rest of this year. If staking is permitted, the figure could rise as high as $6 billion, it said.
“Bitcoin had the first mover advantage, potentially saturating the overall demand for crypto assets in response to spot ETF approvals,” analysts led by Nikolaos Panigirtzoglou wrote.after the Securities and Exchange Commission approved key regulatory filings from applicants last week. They are not yet cleared to trade because the regulator must also approve their S-1 filings before that can occur.
Ether as an application token, “differs from bitcoin in its value proposition for investors with bitcoin having a broader appeal by competing with gold in portfolio allocations,” the authors wrote. The bank noted that less liquidity and lower assets under management would make ether's spot ETFs less appealing to institutional investors than those of its larger rival.
The market’s initial reaction to the launch of spot ether ETFs is likely to be negative, as speculative investors who bought the Grayscale Ethereum Trust in expectation of it being converted to an ETF are likely to take profit. ETHE could see $1 billion of outflows, putting downward pressure on ether prices, the report said.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Hong Kong’s spot bitcoin and ether ETFs experience largest net daily outflows since debutThe three spot bitcoin ETFs saw 519.5 BTC pour out on Monday, while the ether ETFs recorded 2,270 ETH outflows, SosoValue data showed.
Lire la suite »
Filing suggests SEC is exploring grounds to deny spot Ether ETFsAccording to one analyst, details of an SEC filing “buried 50 feet deep in a pile of legalese” called for feedback on whether BlackRock's spot Ether ETF was a commodity.
Lire la suite »
Hong Kong spot Bitcoin and Ether ETFs struggle to gain tractionSpot Bitcoin and Ether ETFs debuted in Hong Kong on April 30, 2024.
Lire la suite »
Wintermute announces liquidity support for Hong Kong spot bitcoin, ether ETFsThe crypto market maker said it has partnered with OSL and HashKey — both sub-custodians for spot bitcoin and ether ETFs in Hong Kong.
Lire la suite »
Spot Ether ETFs approved, but Gary Gensler didn’t vote for them — Here’s whyThe SEC approved the 19b-4 form of BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton, but it didn’t comment beyond the official decision.
Lire la suite »
Spot Ether ETFs receive official approval from the SECThe SEC has finally approved a spot Ether exchange-traded fund in the United States, roughly five months after greenlighting spot Bitcoin ETFs.
Lire la suite »