The launch of spot Ethereum ETFs is highly anticipated because there are many rumors that they will be heavily loaded. The Chief Investment Officer of Bitwise believes that projecting Ethereum as a major participant in the technological space is the best course of action.
He continues by saying that tech-based assets are a major draw for investors, with nearly all, like Nvidia and Meta, sharing experience with assets, including gold.
In the case of Bitcoin, its creation involved the circulation of over 21 million coins. As a result, it assumed the role of digital gold and continued to grow in a similar manner.
Eric Balchunas, an intelligence analyst for ETFs at Bloomberg, believes that the most effective method of promoting Bitcoin is to compare it to digital gold in order to increase its appeal.
He is of the opinion that the description of it as a decentralized, open source, and allocated computing base, which enables the development of dApps and smart contracts, is exceedingly perplexing to the normal person. He attributes this factor to the rather bleak situation surrounding Ethereum futures ETFs, and there is a probability that the state of spot Ethereum ETFs will be similar.
Where Bitcoin ETFs are concerned, they have managed to rake in approximately $14.6 billion following their release in the early part of the year.
However, it is conceivable that Ethereum ETFs will not suffer the same fate, provided that they are effectively promoted. The idea is to create an individual space for Ethereum, away from Bitcoin. While gold is being connected with Bitcoin, it needs to be connected to Ethereum and technology.