Spot Ethereum ETFs could absorb over 1 million ETH in first 5 months: K33 | Headlines | News | CoinMarketCap
06/04/2024 23:20
New spot Ethereum exchange-traded funds in the U.S. could attract between $3.1 billion and $4.8 billion in net inflows over the first five months of …
The Block Crypto News24 minutes ago
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Published on June 04, 2024 15:55 GMT+00:00edited on June 04, 2024 16:01 GMT+00:00
New spot Ethereum exchange-traded funds in the U.S. could attract between $3.1 billion and $4.8 billion in net inflows over the first five months of trading, according to analysts at K33 Research.
The analysts' estimates are based on market sizing comparisons between bitcoin and ether, K33 Senior Analyst Vetle Lunde and DeFi analyst David Zimmerman said in a Tuesday report.
Some 3.3% of ether’s circulating supply currently sits in investment vehicles and has been on a steady downtrend since the November 2021 crypto bull market peak, according to the analysts. That mirrors a similar trend for bitcoin held in investment vehicles, dropping to 4.1% ahead of the spot Bitcoin ETF launch hype. Bitcoin exchange-traded products have since grown to 5.6% of the circulating supply, according to K33.