💥 Avalanche (AVAX) President Talks About Ethereum (ETH) and ETFs! “It’s Only a Matter of Time!

While ETH ETFs have disappointed expectations, Avalanche ( AVAX ) developer Ava Labs President and CEO John Wu said he is very optimistic about Ethereum (ETH) and its ETFs.

Speaking to Bloomberg TV, Ava Labs CEO said that Ethereum ETFs will eventually be successful.

Stating that Ethereum ETFs will be successful over time due to the competitive nature of the decentralized finance (DeFi) sector, Wu compared ETH and BTC ETFs.

Wu stated that Bitcoin and Ethereum are not actually competitors, and that BTC’s only competitor is gold.

“I think no one predicted that the Ethereum ETF would be as successful as the Bitcoin ETF, but in reality, Bitcoin has only one competitor, and that is gold.

The essence of Ethereum is about creating utility and use cases. “Ethereum actually has a lot of altcoin competitors from Avalanche to Solana and others. At this point, ETH is in a competitive environment so Ethereum ETFs will be successful over time.”