Matrixport released today's chart stating that in 2024, Ethereum's performance is disappointing, with its weak performance clearly beginning after the launch of the Ethereum ETF, and the capital inflows are far below market expectations. Meanwhile, on July 31, 2024, Senator Lummis proposed a Bitcoin bill, suggesting that Bitcoin be positioned as a strategic reserve asset. In contrast, Bitcoin has successfully established its status as 'digital gold' and a potential reserve asset, while Ethereum lacks a similarly strong and appealing narrative among traditional finance (TradFi) investors. The lack of clear application scenarios might be one of the core reasons for Ethereum's underperformance. Looking ahead, ETF issuers may need to take on the responsibility of creating and promoting a more attractive narrative for Ethereum by 2025. Without additional support and market positioning, it will be difficult for Ethereum alone to bridge the gap with Bitcoin.

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