- Dr. Julian Hosp decided to critically evaluate Ethereum’s potential with the rise of its future ETFs.
- Hsop believes that Ethereum could outperform Bitcoin even though it gets a spot ETF.
- The investor’s demand for ETH is currently decreasing and continues to reside in the red zone of the chart.
Expressing his opinions on Twitter, the CEO of Bake.io Dr. Julian Hosp decided to critically evaluate Ethereum’s potential with the rise of its future ETFs. Hsop believes that Ethereum could outperform Bitcoin even though it gets a spot ETF. Stating the reason behind his statements, the CEO of Bake.io claimed, “There is literally not a single USD (institutional, retail, etc.) that can’t already get into $BTC via exchanges, existing trusts, ETFs, etc.”
Hosp further expressed that a spot ETF for BTC could hardly create a “change.” Finally, the CEO of Bake.io ended the tweet by reiterating that he still believes that ETH would outperform BTC, even though Hosp holds both ETH and BTC. However, one user didn’t believe in Hosp’s pearls of wisdom and proclaimed, “Only Bitcoin is real!”
In related news, the Security and Exchange Commission (SEC) had already approved the Bitcoin ETF applications by BlackRock, VanEck, Bitwise, WisdomTree, Fidelity, and Invesco. Moreover, reports speculated that spot ETF would reduce the difficulties in the current investment options for BTC. As shown through various research, it is expected that the ETF would also reduce expenses while investing.
Although speculations of whether Ethereum would outperform Bitcoin are yet to be proved, ETH is currently trading at $1,835.81 after a fall of 2.19% over the seven-day period. Moreover, the altcoin faced another tumble of 1.14% in 24 hours, which led its market cap to be valued at $220,635,336,112, at the reported time.
According to CoinMarketCap, ETH’s trading volume shows decreasing demand from traders as it faced a downfall of 21.42% to $5,493,586,951. With its recent fall observed across various time periods, ETH needs to reach the $1,877 area in order to reach the green zone of the chart.
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