JPMorgan: Ethereum ETF Less Attractive Due to Lack of Pledge, 'First-Mover Advantage' and Low Liquidity
Spot ethereum exchange-traded funds have seen net outflows overall since their launch last month, while spot bitcoin ETF launched earlier this year have been more successful, JPMorgan said in a research note Wednesday. Net outflows from ethereum funds have been about $500 million, while net inflows into bitcoin ETFs have been more than $5 billion. The bank said the weak numbers for the ethereum ETF were somewhat expected, noting that bitcoin's “first mover advantage,” lack of pledges and low liquidity mean it is less attractive to institutional investors.
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