Matrixport released a chart today stating that Ethereum's performance in 2024 has been disappointing, with its weak performance clearly beginning after the launch of the Ethereum ETF, as the inflow of funds has been far below market expectations. Meanwhile, on July 31, 2024, Senator Lummis proposed a Bitcoin bill, suggesting that Bitcoin be positioned as a strategic reserve asset. In contrast, Bitcoin has successfully established its status as 'digital gold' and a potential reserve asset, while Ethereum lacks a similarly compelling narrative among traditional financial (TradFi) investors. The lack of clear use cases may be one of the core reasons for Ethereum's underperformance. Looking forward, ETF issuers may need to take on the responsibility of creating and promoting a more appealing narrative for Ethereum in 2025. Without additional support and market positioning, it may be difficult for Ethereum to bridge the gap with Bitcoin based solely on its own merits.

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