Hey folks.
According to K33 Research analysts, Ethereum could outperform Bitcoin with the launch of spot Ether Exchange Traded funds (ETFs) in weeks after they go live in the US.
As of July 8, the Ether ETFs, are anticipated to launch, which is said to be a "golden egg" for the price action of Ethereum while Bitcoin is set to experience sell pressure as $8.5 billion worth is returned to creditors of the crashed exchange Mt. Gox starting this week, shared by Vetle Lunde and David Zimmerman analysts at K33 in a report on July 2.
For more over a year, Ether has underperformed in comparison to Bitcoin, which has seen market-leading gains in 2024 supported by inflows of over $14 billion into its spot ETFs.
It is reasonable to anticipate that the price of ETH will "stumble immediately following the launch of the ETFs," according to Lunde and Zimmerman, but they also pointed out that, similar to what eventually happened with Bitcoin, inflows to the spot funds will probably raise the price of ETH.
The price of Ethereum has been charting a steady decrease compared to Bitcoin for the past 12 months, falling to a yearly low of 0.045 on May 24.
Following the SEC's abrupt approval of Ether ETFs, which shocked observers, the price of Ether relative to Bitcoin rapidly reversed and ticked up to its current value of 0.055, according to TradingView data.
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