Ethereum will outperform Bitcoin after ETF launch: K33 Research
The price of Ethereum could be bolstered by inflows into upcoming U.S. spot ETFs, while Bitcoin faces headwinds from Mt. Gox creditor repayments.
The launch of spot Ether (ETH) exchange-traded funds (ETFs) could see the cryptocurrency outperform Bitcoin (BTC) in the weeks after they go live in the United States, say K33 Research analysts.
The ETFs, expected to launch as soon as July 8, are a “golden egg” for ETH’s price, while Bitcoin is set to face selling pressure as $8.5 billion worth is returned to creditors of collapsed exchange Mt. Gox starting this week, K33 analysts Vetle Lunde and David Zimmerman said in a July 2 report.
ETH has underperformed against Bitcoin for over a year, with the latter posting market-leading gains bolstered by over $14 billion in flows to Bitcoin exchange-traded products this year.
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Author: Tom Mitchelhill
