JPMorgan: Ether Spot ETFs to See Much Lower Demand Than Bitcoin Versions
The demand for spot $Ethereum(ETH.CC$ exchange-traded funds (ETFs) will be a lot lower than for their $Bitcoin(BTC.CC$ equivalents for a number of reasons, JPMorgan said in a research report on Thursday. JPMorgan said it expects spot ether ETFs to attract as much as $3 billion of net inflows for the rest of this year. If staking is permitted, the figure could rise as high as $6 billion, it said.
"Bitcoin had the first mover advantage."
Ether ETFs are close to becoming available in the U.S. after the Securities and Exchange Commission (SEC) approved key regulatory filings from applicants last week. They are not yet cleared to trade because the regulator must also approve their S-1 filings before that can occur. Bitcoin ETFs began trading in January.
The bitcoin reward halving in April was an additional demand catalyst for spot bitcoin ETFs, the report said, noting that there is no similar impetus for ether in the future. The lack of staking for approved spot ether ETFs also makes these products less attractive compared with other platforms that offer staking yields.
The market’s initial reaction to the launch of spot ether ETFs is likely to be negative, as speculative investors who bought the Grayscale Ethereum Trust (ETHE) in expectation of it being converted to an ETF are likely to take profit. ETHE could see $1 billion of outflows, putting downward pressure on ether prices, the report said.
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102131911 : DO NOT believe in any analysis report from JPMorgan that is related to crypto currencies. Their big boss Jamie Dimon belongs to the anti-crypto extremist camp.
No one working in JPMorgan will dare to issue any report or anslysis that will favor crypto currencies because of his extreme negative view on crypto currencies.
Does anyone remember that a JPMorgan analyst predicted that Bitcoin will drop back to 42K after 4th Halving? Look at where is Bitty now.
Ron Lemeshev 102131911: It’s mind blowing the manipulation these people get away with
Leojozs23 : what's the next etf
102131911 Ron Lemeshev: But "he was forced to approved" JPMorgan to sell Bitcon ETF to their customers because they are requesting for exposure to it. He sure isn't sticking to where his mouth is.
