MicroStrategy’s Bitcoin Holdings
MicroStrategy, a leading business intelligence firm, has been accumulating Bitcoin (BTC) for years. As of May 24, they hold 214,400 BTC, worth over $14 billion.
SEC Approves Ethereum ETFs
Recently, the US Securities and Exchange Commission (SEC) approved spot Ethereum exchange-traded funds (ETFs). This means institutions can now invest directly in Ethereum.
Analyst’s Hypothetical Scenario
An analyst at X believes that MicroStrategy could have made significant gains if they had chosen Ethereum over Bitcoin. If they had bought and held Ethereum instead of Bitcoin, their holdings would be worth over $19 billion at current prices.
Ethereum’s Undervalued Potential
After the approval of Bitcoin ETFs, Ethereum prices surged. However, they have since traded at a discount compared to Bitcoin. The analyst believes that Ethereum is undervalued and could potentially replicate Bitcoin’s success.
Approval Timeline
Eight ETF issuers have received approval for their spot Ethereum ETFs. The next step is for the SEC to approve their S-1 registration statements. Once approved, trading in these ETFs can begin.
Custodianship and Staking
It’s important to note that these ETFs will hold Ethereum through regulated custodians and will not offer staking.
