Over the last few months, Ethereum has proven its resilience by consistently outperforming Bitcoin. Analysts note that this trend is based on several factors, including the Ethereum ETF. This new financial product could strengthen Ethereum's market position and attract significant investments.
Potential Impact of Ethereum ETF
The approval of the Ethereum ETF is considered a major step in the market. Some analysts predict that this step will not only strengthen Ethereum's position but also increase its market share. K33 research indicates that future investments in the ETF could be between $750 million and $1 billion per month, equivalent to approximately 0.75-1% of the circulating supply of ETH for five months.
SEC's Undecisiveness About Ethereum ETFs
The market awaits the decision of the United States Securities and Exchange Commission (SEC) on Ethereum ETFs. The lack of a clear response from the SEC in recent weeks has created uncertainty among issuers and investors. This situation has created a cautious atmosphere in the market. Important names in the industry, such as Nate Geraci, state that the SEC secretly evaluates the applications and that they believe that approval is close.
Market Reactions and Forecasts
The cryptocurrency community has different views on the potential impact of the Ethereum ETF. While some expect a significant increase in the value of ETH, others are skeptical as Ethereum has not performed as expected in the past. Analyst Benjamin Cowen emphasizes the historical trends of the market, stating that Bitcoin's dominance tends to increase in the fourth quarter of the halving years, indicating possible fluctuations.
Mt. Gox's Impact and Bitcoin Selling Pressure
A factor that further complicates the situation is the bankrupt Mt. It is an inflow of approximately $8.5 billion worth of Bitcoin to be distributed to creditors from the Gox exchange. This could temporarily suppress Bitcoin's price and potentially give Ethereum an advantage in the market.
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