JPMORGAN WARNS ABOUT THE INITIAL NEGATIVE MARKET REACTION TO THE ETHEREUM SPOT ETFs.
According to analysts at JPMorgan, those hoping to see cash flow into spot ethereum ETFs at a similar rate to what happened to their bitcoin counterparts may be disappointed.
âThe initial market reaction to the launch of Ethereum spot ETFs is likely to be negative,â the analyst team led by Nikolaos Panigirtzoglou wrote, in a 25-page âFlows and Liquidityâ report published Thursday. EthereumïżŒ ETH +1.97%ïżŒ
Related comments took up less than a page of the report.
âWe believe demand for spot ether ETFs would be a fraction of that seen for spot bitcoin,â the JPMorgan analysts wrote, while listing several reasons why they believe spot ether ETFs are not up to par. height of those of bitcoin.Â
First, analysts said, bitcoin had a âfirst-mover advantageâ and therefore absorbed much of the demand for crypto assets in response to bitcoin ETF spot approvals.
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