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Why Ethereum ETF day one inflow won't be like Bitcoin?
Spot Ether (ETH) exchange-traded funds are expected to have lower initial inflows compared to spot Bitcoin ETFs, according to Stephen Richardson, managing director of financial markets at Fireblocks.
Bitcoin ETFs saw substantial inflows on their first day, with Bitwise’s BITB product leading at $237.9 million, followed by Fidelity’s FBTC ($227 million) and BlackRock’s IBIT ($111.7 million).
Richardson attributes this disparity to the challenges in valuing Ethereum’s technology-driven use cases, which lack the clear metrics and consensus that Bitcoin’s store of value use case has.
Consequently, Ether ETFs are unlikely to match the Bitcoin ETFs' day-one inflows of $655.2 million. #BTC $BTC