Barely a week after the approval of spot ethereum (ETH) exchange-traded funds (ETFs), things have not changed much for the largest 'altcoin' on the market. In this time, the price of ether has barely risen, weighed down mainly by a less optimistic macroeconomic scenario than a few weeks ago. However, analysts' outlook remains quite positive.

Blake Heimann, a member of WisdomTree's quantitative research team, believes it is "possible" that the market will sooner or later replicate the gains experienced following the approval of spot bitcoin (BTC) ETFs, marking a new "important milestone." in the maturity of this asset class. We remember that the allocations of retail and, above all, institutional investors led to new all-time highs in bitcoin prices and the doubling of the global market for cryptographic products, with more than 60 billion of dollars managed around the world.

"The initial market rally (ETH has reached $3,800 in recent days) would reflect optimism in the face of a similar case for ETH," explains this expert. However, Heimann also highlights that there is a possibility that the adoption rate "does not reflect the magnitude of that of BTC" because ETH is the second spot crypto asset to hit the US ETF market this year, which mitigates some of the overall impact.

"The launch of Bitcoin spot ETFs in the US was the most successful on record and surpassing it in the same year can be a challenge. Likewise, the differentiated nature of ethereum use cases can attract a different investor base, potentially smaller than that of bitcoin, at least initially," he reflects.

On the other hand, this strategist points out, the Ethereum ecosystem may have other characteristics that "could be beneficial" $ETH