ETH ETF Narrative is Somewhat Disappointing
The period between 19b-4 approval and expected July 2 launch provides investors with an opportunity to digest the potential outcome of an ETH ETF.
The main catalyst for the success of an ETH ETF is the treatment of “collateralization” as this could be a key differentiator between crypto funds
While the idea of a “different” crypto asset is appealing, compared to the previous “crypto exposure” BTC ETF
The ETH ETF represents a future income-based crypto ETF product with attributes similar to a bond or money market ETF. But it is unclear how the SEC will treat the important part of ETH
Regardless, ETH exposure is inevitable for capital inflows
I think the bigger move is in the approval of collateralization, and more importantly the re-collateralization part
$LDO , $PENDLE and other ETH beta projects will benefit from the follow-up effect of the ETH ETF
This sector has performed well in the recent sell-off and may outperform ETH