There will be a huge buying pressure for ETH leading to a shortage of post-ETF supply
After months of silence, the US Securities and Exchange Commission (SEC) appears to be preparing to approve spot Ethereum ETFs.
Institutions already exposed to Bitcoin through the newly launched ETFs will most likely want to diversify into the second approved ETF, there will be a great natural pressure to buy $ETH through the ETFs
But on-chain data shows that more than 27% of Ether's total supply has been staked on the Ethereum network. It is locked in contracts and provides yield to its owners.
In other words, not only is the market value of Ether lower than Bitcoin – making Ether price more responsive to capital flows – but a significant portion of its supply is not available for ETF consumption.