The Ethereum ETF received consent but remains behind the spot Bitcoin entry, awaiting official registration. In response, major financial institutions such as BlackRock and Fidelity are awaiting consent from the Securities and Exchange Commission (SEC) to register Ethereum funds.
According to strategists at JPMorgan, the Ethereum ETF’s net inflows will be smaller compared to Bitcoin’s $15.3 billion.
Bitcoin’s rise may be related to Bitcoin being viewed as digital gold. Another factor that may slightly hinder the growth of Ethereum is that it does not offer staking rewards for managing the blockchain.
According to Caroline Bowler, CO at BTC Markets, ETH is not of the same standard as Bitcoin, which has a market value of $1.4 trillion and is significantly higher than Ethereum’s value.
After significant delays, the SEC is considering waving the green flag for a spot Ethereum ETF following its consent for a Bitcoin fund. This helped increase the value of ether.
Experts predict that Ethereum items will reach $1 billion to $3 billion in net inflows over the remainder of 2024. However, it will take some time to capture 20% of the market. Bitcoin ETF asset holdings amount to $62.5 billion.
Some are more optimistic, thinking that Ethereum’s net inflows could reach $4 billion. For now, it’s all speculation until it’s officially registered, and it all depends on the SEC’s ruling.