News 
Coin Information 
About us 
Recent data reveals a tepid response to the launch of nine Ether (ETH) futures exchange-traded funds (ETFs), leading market experts at K33 Research to advocate for a stronger focus on Bitcoin (BTC).
K33's market report from October 3, authored by analysts Anders Helseth and Vetle Lunde, highlighted that the initial trading volume of these Ether ETFs comprised a mere 0.2% of the debut numbers witnessed by the ProShares Bitcoin Strategy ETF in October 2021. While Bitcoin's impressive performance was anticipated, especially considering its launch during a bullish market phase, the Ether ETFs noticeably fell short of projections.
Lunde revised his prior suggestion of enhancing Ether holdings, emphasizing that the subpar performance of ETH ETFs underscores a valuable takeaway. For traditional investors considering crypto markets, the allure and potential of investment are contingent upon existing, unsatisfied demand. In the current scenario, this demand is absent for ETH.
In another segment of the report termed "More chop ahead," Lunde indicated that the crypto market at large seems to lack significant short-term price drivers. As a result, the market could experience a more horizontal movement in the coming times. The only crypto asset appearing to benefit in this environment is Bitcoin, especially given its potential ETF approval early next year and the much-anticipated halving event slated for mid-April.
Ben Laidler, a top strategist at eToro, shared a comparable perspective on the direction of the crypto market, although with a bit more caution. He underscored the influence of significant macroeconomic factors, such as the Federal Reserve and oil prices, on cryptocurrency trends. Laidler elaborated that with the resurgence of oil prices, combined with the existing rate hike phase, the market could be in for a cooler sentiment, awaiting positive news.
Comment 0