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After ETF Approval, Experts Assess ETH Selling Point
Last week, the SEC authorized Ethereum spot ETF applications, which was intriguing. This unprecedented development has raised questions about the Ether token's worth and acceptability, particularly among a certain demographic.
What's Ethereum, Digital Gold After Bitcoin?
After the clearance, Bloomberg ETF analyst Eric Balchunas discussed the Ethereum spot ETF market's prospects on X. The expert said that the Ethereum token's appeal, particularly among baby boomers, may affect investment product performance.
Balchunas suggests that ETF issuers use a “easy-to-understand sound bite” to reach the “baby boomer” population by explaining the benefit or purpose of ETH ETFs. The Bloomberg analyst questioned if Ethereum had a straightforward selling pitch, citing “Bitcoin is digital gold” as an older-generation-friendly marketing slogan.
There were some intriguing responses from bitcoin celebrities. Notably, crypto writer Colin Wu labeled Ethereum “Web 3.0 internet.”
Crypto investor and Cinneamhain Ventures partner Adam Cochran said, “Ethereum is like digital oil.” Cochran added that Ethereum powers decentralized protocols as gas.
Glassnode principal analyst James Check said Ether has no selling point. “Ethereum still has no elevator pitch, despite years of attempts,” the crypto commentator said on X.
While Ethereum spot ETFs' viability is uncertain, these newly permitted funds are anticipated to provide more crypto products in the future year. The research team at investment bank TD Cowen suggests a "basket of crypto tokens," potentially Bitcoin and Ether, as the next offering.
The research organization said in its analysis that the SEC's recent approval of eth spot ETF doesn't change its crypto attitude. Chairman Gary Gensler's recent remarks opposing crypto legislation emphasized this.
TD Cowen analysts predict the SEC will fight against crypto trading platforms that trade tokens it thinks are unregistered securities until 2026 due to its Democratic majority.
