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Cryptocurrency News Articles
Ethereum (ETH) May Have Greater Growth Potential Than Bitcoin (BTC) in the Context of Transitioning to Spot ETFs (Exchange-Traded Funds)
Sep 29, 2024 at 01:05 am
Analyst Leon WAIDMANN of the Onchain Foundation revealed that Ethereum could have greater growth potential than Bitcoin in the context of transitioning to spot ETFs (Exchange-Traded Funds).
The battle for supremacy between Bitcoin (BTC) and Ethereum (ETH) continues to dominate discussions within the crypto community. A new element that is changing the game is the potential for Bitcoin and Ethereum to be included in spot Exchange-Traded Funds (ETFs).
Analyst Leon WAIDMANN of the Onchain Foundation revealed that Ethereum could have greater growth potential than Bitcoin in the context of transitioning to spot ETFs.
This analysis is based on data from Grayscale’s products, a leader in crypto management, which recently converted its trusts into ETF.
Ethereum vs Bitcoin : a favorable dynamic for ETH
Since Grayscale’s investment products were converted into ETF, Ethereum seems to be on a more promising trajectory than Bitcoin.
Leon WAIDMANN, Head of Research at Onchain Foundation, states that “over the first 50 days of tracking flows, we can observe that Ethereum is losing liquidity (measured by the institutional flows) at a much slower pace than its counterpart Bitcoin.”
This observation is based on the analysis of ETF outflows, where ETH shows better resistance. Thus, while Bitcoin-based products suffer larger withdrawals, those based on Ethereum show much more limited losses.
These data are crucial as they illustrate a shift in the dynamics of institutional investors. According to WAIDMANN, this better performance of Ethereum could pave the way for a more significant “upside potential,” provided that the observed trend continues.
This perspective comes in a context where both cryptos, despite being market leaders, see their trajectories diverge following the introduction of ETFs in the United States.
Bitcoin inflows and mixed signals for Ethereum
Meanwhile, Bitcoin also shows signs of robustness. According to some data, Bitcoin ETF have recorded positive inflows over the past seven days, with more than $1.35 billion in assets under management during the past week.
“Yesterday, we witnessed the most productive day for Bitcoin ETFs since mid-July, with almost $0.5 billion added in a single day,” highlights Leon WAIDMANN.
However, for Ethereum, the signals are more mixed. Although ETH registered five positive days over the past seven, it also experienced two days of net outflows. The total inflows for Ethereum during this period amounted to $93.2 million, far from Bitcoin’s positive figures.
This fluctuation shows that despite solid fundamentals, Ethereum’s volatility could temper investor enthusiasm in the short term.
The competition between Bitcoin and Ethereum to attract investment flows seems to be intensifying, as each asset presents its own advantages and challenges. While Ethereum appears to have greater upside potential due to better liquidity resilience, Bitcoin continues to attract massive investment volumes, which consolidates its position as a reference asset.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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