Why can't Ethereum rise??
Firstly, Grayscale has been continuously selling pressure, and other institutions can't absorb it.
Bitcoin also faced selling pressure from Grayscale when it just passed the ETF, but it quickly adjusted. However, Ethereum continues to be affected by this, and many people hope that it can rise once Grayscale finishes selling, but that has not happened yet.
Secondly, the fund managers of ETF issuers have no motivation to promote Ethereum ETFs.
Grayscale holders keep selling, and other issuers' clients do not have enough purchasing power.
Bitcoin has “super promoters” like Trump and Musk, as well as “super investors” like MicroStrategy, and it is said that Microsoft is about to join, so the external driving force is very strong.
For ETF issuers, promoting Bitcoin ETFs only requires “raising deposits”, as the market education work has been done well by the big players.
Ethereum is different; it has neither super promoters nor super investors.
Introducing Bitcoin ETFs to American moms is quite simple; Musk and Trump have laid a good foundation.
But introducing Ethereum ETFs is much more troublesome; one has to explain a bunch of technical terms, and the listeners might have already lost patience and left.
It's like in a village where most relatives and friends know Bitcoin, but very few understand Ethereum. If people are not familiar with an asset, they naturally won't easily buy it.
Think from the other side: if you were the CEO of an ETF issuer and faced a lot of hot money in the market, would you choose to continue promoting Bitcoin or spend time educating the market to promote Ethereum? So this is also one of the reasons why Bitcoin performs better than Ethereum.
