- The cryptocurrency market is abuzz with discussions about the potential approval of Ethereum ETFs by the SEC.
- Bitcoin maximalists argue that Ethereum ETFs will underperform compared to Bitcoin ETFs.
- Samson Mow, a prominent Bitcoin advocate, has made a bold statement regarding the future of Ethereum prices.
Discover why experts believe this could be the last chance to sell Ethereum at a premium against Bitcoin, and learn about the latest trends in Bitcoin ETF inflows.
Last chance to sell ETH above 0.05 BTC
Samson Mow, a well-known Bitcoin maximalist, recently tweeted that the potential approval of Ethereum ETFs by the SEC is not a bullish development. According to Mow, even if these ETFs are approved, they will “undoubtedly massively underperform Bitcoin ETFs.” He suggests that investors compare the demand for both BTC and ETH in other markets and consider that Ethereum will not offer staking rewards.
Mow concluded his tweet by stating that now is “the last chance to sell ETH above 0.05 BTC.” In the comments to his tweet, he added that he expects the news of the potential approval to become one of the biggest “sell the news events” of the year. A commentator pointed out that there is no company of the scale of MicroStrategy acquiring Ethereum in the same amounts as Michael Saylor’s company is accumulating Bitcoin.
Contrary to Mow, Bitcoiner and VC investor Anthony Pompliano believes that the potential approval of Ethereum ETFs by the SEC could become “the last dam to be broken” before the U.S. approves the entire cryptocurrency space.
Bitcoin ETFs keep seeing inflows
Analytics account @spotonchain revealed a recent update on spot Bitcoin ETF flows. On May 22, these funds encountered $154 million in net inflows, marking the eighth consecutive day of positive inflows—a streak not seen since mid-March. The BlackRock fund remains the leader among ETFs, with $92 million coming into it on Wednesday. On May 21, BlackRock’s IBIT had the largest inflow over the past 32 trading days, amounting to $291 million.
Conclusion
The cryptocurrency market is at a pivotal moment, with significant developments in both Ethereum and Bitcoin ETFs. While some experts like Samson Mow advise caution and suggest selling Ethereum, others see the potential approval of Ethereum ETFs as a positive step for the entire crypto space. Meanwhile, Bitcoin ETFs continue to attract substantial inflows, indicating strong investor interest. As the market evolves, staying informed and making strategic decisions will be crucial for investors.
