Why Ethereum Holders Should Consider Cashing Out
Samson Mow, CEO of Bitcoin adoption firm Jan3, believes that Ethereum-based ETFs will underperform compared to Bitcoin ETFs. He suggests that this may be the last chance for Ethereum holders to sell at a favorable price relative to Bitcoin.
Reasons for Mow’s Call
- Lack of staking rewards for Ethereum
- Lower demand for Ethereum in various markets
- Mow believes that Ethereum ETFs will not be a bullish signal and will likely lead to a sell-off.
Bitcoin Spot ETFs Show Strong Inflows
In contrast to Ethereum spot ETFs, Bitcoin spot ETFs have seen significant inflows, indicating strong investor interest.
- BlackRock’s IBIT had the highest net inflow of $91.95 million on May 22.
- Fidelity’s FBTC also showed strong performance with a daily net inflow of $74.57 million.
- Bitcoin spot ETFs’ total net asset value has reached $59.20 billion.
Expert Opinion on Ethereum Spot ETFs
- Mow believes that Ethereum spot ETFs will be a “sell the news event” and will underperform compared to Bitcoin ETFs.
- He dismisses the theory that these ETFs could divert funds from Bitcoin ETFs, citing the lack of significant Ethereum accumulation by major institutional investors.
