🚀 ETH Closing in on BTC's Dominance?

posted  3 Jul 2024
Photo - ETH Closing in on BTC's Dominance?
According to K33 Research analysts, ETH could outshine BTC once spot Ethereum ETFs are launched. They predict the ETFs will boost ETH's price, while BTC may experience pressure from the Mt. Gox exchange creditors.

It's worth noting that Mt. Gox has announced it will begin BTC and BCH payouts in early July 2024, with a total payout possibly exceeding $8 billion!
Nate Geraci, President of the ETF Store, anticipates the spot Ethereum ETFs could be released on July 15 (Monday), with the revised S-1 documents due on July 8 and the potential final versions expected by July 12 (Friday, end of the week).

According to Bloomberg ETF analyst Eric Balchunas, the US spot Ethereum ETF market could reach a volume equivalent to 10%–20% of the spot Bitcoin ETF market.

K33 Research analysts, on the other hand, forecast that US spot Ethereum ETFs could attract between $3.1 billion and $4.8 billion in net inflows over the first five months of trading. More details can be found in our dedicated article on the website.