After the long-awaited launch of the Ethereum ETF, Wall Street can't seem to figure out how to effectively communicate its value to potential investors.
According to a new report from 10x Research, #BlackRock describes #BTC as a "bet on blockchain technology.
However, this characterization may not appeal to traditional investors.
It's common for Wall Street people not to bet on things they don't understand, the report said.
Grayscale's #BTC Trust (ETHE) saw outflows of $327 million, offset by inflows of $46 million and $74 million into Fidelity's mini-Ethereum #ETF .
Ethereum ETFs are trading - why hasn't the price of ETH gone up yet?
The Ethereum Spot exchange traded funds (ETFs) are traded in the US, but you'd never guess it by looking at the price. In fact, in the week since the ETFs were introduced, the price of ETH has fallen 8.2%. This has left investors wondering when the price of Ethereum will start to rise as a result of new funds buying ETH and more shortages. Market analysts and crypto experts believe that it will take some time before the new ETFs start to have an impact. Watching the current price of Ethereum (ETH), we can say.
other words, according to SoSo Value, as of the third day of trading, the total net asset value of the U. S. spot Ethereum ETF is $9.5 billion.
The lack of a clear and compelling story for ETH contrasts with the widespread acceptance of #bitcoin as "digital gold, 10x Research noted, adding that it remains bearish on ETH.
Ethereum may be the weakest link with stagnant or declining fundamentals (new users, revenue, etc. ),
', the analyst wrote.
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