đđBloomberg Analyst Eric Balchunas Talked About Bitcoin and Ethereum: Explained His Expectations! đđ
Investors, Mt. Gox and the US and German governments' moves on Bitcoin, while the Bitcoin bear market took control of the bulls.
This caused BTC to fall to $53,400 in February. This decline also affected altcoins, and the largest altcoin Ethereum dropped by 9% to $ 2,850. This decline in Ethereum occurred in the days when the SEC's S-1 approval was awaited. Bloomberg analyst James Seyffart and ETF Store president Nate Geraci expect the SEC to approve S-1 filings on July 15.
Eric Balchunas said that the upcoming launch of spot Ethereum ETFs could be disappointing compared to the record inflows of spot Bitcoin ETFs, claiming that ETH ETFs could lag behind Bitcoin.
He noted that the advantages Bitcoin offers as digital gold are easier to understand, and that Ethereum's resemblance to a technology stock increases the difficulty of understanding ETH for traditional retail investors. "Bitcoin and Ethereum are already moving together. However, it is more difficult to explain Ethereum to investors compared to Bitcoin. That is why I think ETH ETFs will also lag behind the record inflows in BTC ETFs. I see ETH as just a supporting player of Bitcoin "I see it as
As you may remember, US Securities and Exchange Commission Chairman Gary Gensler stated in his statement at the end of June that preparations for the spot Ethereum ETF were progressing smoothly. However, he did not make clear whether ETH ETFs would start trading before the US elections in November.
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