According to U.Today, Samson Mow, a prominent Bitcoin supporter and head of Bitcoin-centric firm Jan3, continues to express his disapproval of Ethereum and all other altcoins, lauding Bitcoin as the sole valuable digital currency. Recently, he used his X (previously known as Twitter) account to discuss the newly approved spot Ethereum ETFs and criticize them. Mow, like other Bitcoin maximalists, refers to altcoins as 's-coins', indicating their disapproval. He commented on the recent approval of spot Ethereum ETFs, stating that 's-coins do not help Bitcoin' and that there is 'no second best' for him.
Mow believes that there is currently no demand for spot Ethereum ETFs, which he refers to as 'securitized ETH', and that Bitcoin enthusiasts will not revise their models due to these ETFs. He recently tweeted that it was investors' 'last chance to sell ETH above 0.05 BTC.' Mow's stance on Ethereum ETFs not aiding Bitcoin appears to contradict the views of Bitcoin evangelist and MicroStrategy founder Michael Saylor. In a recent interview, Saylor, whose company purchases Bitcoin monthly and adds it to its balance sheet, suggested that the approval of spot Ethereum ETFs could be beneficial for Bitcoin. He reasoned that the SEC's positive decision on Ethereum expands the entire asset class, potentially attracting more investment into Bitcoin.
In other news, on-chain data account @lookonchain reported that on May 29, spot Bitcoin ETFs experienced another significant inflow, adding a total of 2,075 BTC. This amount of Bitcoin is valued at over $140.8 million. BlackRock acquired the largest amount of BTC – 1,503 BTC worth over $102 million, surpassing Grayscale as the largest spot Bitcoin ETF with $19.59 billion in Bitcoin compared to Grayscale’s $19.6 billion. Over the past 24 hours, Bitcoin has increased by 1.35%, surpassing the $68,000 price level. However, this slight increase was followed by a pullback that brought the leading cryptocurrency back to $67,430 – $200 higher than the point from which Bitcoin rose the previous day.