Odaily Planet Daily News: The US SEC's approval of an Ethereum spot ETF has raised expectations of massive inflows. However, JPMorgan warned that these hopes may be overly optimistic compared to Bitcoin spot ETFs. JPMorgan analysts outlined several reasons for their cautious outlook. They detailed Bitcoin's "first-mover advantage" and the recent halving event as important demand catalysts for Bitcoin ETFs, which Ethereum lacks. Analysts noted that Ethereum's PoS mechanism did not provide a similar demand boost, and they emphasized that the Bitcoin halving event "acted as an additional demand catalyst for Bitcoin spot ETFs." In addition, they pointed out that the removal of staking from Ethereum spot ETFs in their application documents made these funds "less attractive than platforms that offer staking returns." Bitcoin's position as a competitor to gold in portfolio allocation has further increased its demand for Ethereum, which is mainly seen as an application token. In addition, JPMorgan noted that Ethereum's lower liquidity makes it less attractive to hedge funds and quantitative funds. (Bitcoin.com)

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