Ethereum ETFs might have been significantly more successful if they had launched alongside Bitcoin ETFs in January, according to a Bitstamp executive.
Bitcoin and Ethereum ETF launches
Bitcoin ETFs were launched on January 10, 2024, and accumulated net inflows of $17.5 billion over eight months. In contrast, Ethereum ETFs started trading seven months later in July and saw over $600 million in net outflows in two months.
Current challenges for Ethereum
According to Bobby Zagotta, CEO for the Americas and global commercial chief at Bitstamp, "The Ethereum ETFs launched at kind of a burdened moment, as the markets in general for risk assets were weighted down."
Future prospects
"Ethereum is more challenged now than ever before because of other alternatives that are getting a great amount of traction," added Zagotta, noting that protocols like Solana are attracting significant attention.
Despite current challenges, Zagotta sees potential for Ethereum towards the end of the year and is confident in increased market activity in the fourth quarter.
Comments