🔥Hot News! IntoTheBlock said in its latest newsletter that the upcoming Ethereum spot ETF could have a substantial impact on ETH as it will bring in a new wave of investors. 🌊

Since ETH's supply is highly concentrated in the hands of long-term players, if the inflows to its ETF are comparable to the inflows of Bitcoin, then this could have a huge impact. 💥

Ilan Solot, co-head of digital assets at Marex Solutions, said that pessimism could actually lead to Ethereum's outperformance, "ubiquitous pessimism is a strong foundation for outperformance." 🚀

However, Solot also reminded that comparing many inflow forecasts with Bitcoin ETF data may be over-benchmarked, such as "ETH will attract 20% of Bitcoin ETF inflows." The prevalence of arbitrage trading may confuse such comparisons and overestimate potential price impacts. 📈

In any case, we remain optimistic about Bitcoin and look forward to further development of the blockchain industry! 🎉