Spot Ether (ETH) exchange-traded funds (ETFs) are unlikely to match the day-one inflow of spot Bitcoin ETFs, warns Fireblocks' Stephen Richardson. The Bitcoin ETFs saw an impressive $655.2 million inflow on their opening day. Richardson suggests that Ethereum's value metrics are less clear-cut, making it harder to evaluate. He believes that the right value metrics need to be established before the technology's adoption can be assessed. Despite this, Ethereum is seen as a strong contender in the digital native space, with its value tied to the use cases built on top of it. Recently approved Ether ETF applicants now await SEC approval to start trading.