Analysts said that Ethereum and Bitcoin are not in the same league:

We believe demand for spot ethereum ETFs will be well below that seen for spot Bitcoin. Ethereum and Bitcoin are not in the same league. Bitcoin was a first, but there are still doubts about Ethereum.

On the other hand, it was stated that the staking feature was removed from all Ethereum ETF applications and this made ETFs less attractive.

It was stated that the approval of spot Ethereum ETFs does not seem likely in the near term, and if approved, these ETFs may initially have a negative impact on the market.

Stating that Ethereum's commodity and securities discussions are still unresolved, the JPMorgan front reminded that great uncertainty is a negative factor for the market.