JPMORGAN WARNS ABOUT THE INITIAL NEGATIVE MARKET REACTION TO THE ETHEREUM SPOT ETFs.

According to analysts at JPMorgan, those hoping to see cash flow into spot ethereum ETFs at a similar rate to what happened to their bitcoin counterparts may be disappointed.

“The initial market reaction to the launch of Ethereum spot ETFs is likely to be negative,” the analyst team led by Nikolaos Panigirtzoglou wrote, in a 25-page “Flows and Liquidity” report published Thursday. Ethereum ETH +1.97%

Related comments took up less than a page of the report.

“We believe demand for spot ether ETFs would be a fraction of that seen for spot bitcoin,” the JPMorgan analysts wrote, while listing several reasons why they believe spot ether ETFs are not up to par. height of those of bitcoin. 

First, analysts said, bitcoin had a “first-mover advantage” and therefore absorbed much of the demand for crypto assets in response to bitcoin ETF spot approvals.

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