K33 Research: After the launch of the Ethereum ETF, Ethereum's performance will surpass Bitcoin

2024-07-03 10:02:07

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ChainCatcher news, K33 Research analysts indicate that the performance of spot Ethereum ETFs in the U.S. may surpass that of Bitcoin within weeks of their launch.

K33 analysts Vetle Lunde and David Zimmerman stated in a report on July 2 that these two ETFs are expected to launch as early as July 8, and they represent a "golden egg" for ETH's price. Meanwhile, with $8.5 billion in funds being returned to creditors of the collapsed exchange Mt. Gox starting this week, Bitcoin will face selling pressure.

Lunde and Zimmerman anticipate that ETH will drop immediately after the ETF launch, but they noted that, similar to the later situation with Bitcoin, the inflow of funds into these funds could support ETH's price.

Lunde wrote, "With the arrival of summer and the accumulation of funds, the ETF becomes a solid catalyst for ETH's relative strength, and I firmly believe that the current ETH/BTC price is attractive for patient traders."

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