Fun

Institutions are more bullish on Ether than retail ahead of ETH ETF launch

News Feed - 2024-07-16 10:07:01

Zoltan Vardai10 hours agoInstitutions are more bullish on Ether than retail ahead of ETH ETF launchEther’s price could double during the 2025 bull cycle, thanks to increased institutional interest introduced by ETH ETFs, according to Bybit’s head of institutions.2742 Total views22 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksInstitutional investors are more bullish on Ether than retail investors, a week ahead of the potential launch of the first spot Ether exchange-traded funds (ETFs).


Institutional investor confidence in Ether’s (ETH) price is stronger than retail investors, according to Eugene Cheung, head of institutions at Bybit.


Cheung told Cointelegraph:“Our recent report shows that institutional investors are bullish on ETH, more so than retail investors.”


Institutional investors doubled their Ether exposure shortly after the ETF was announced, from 6.54% to 14.29%, according to the report referenced by Cheung. During the same period, retail investor allocation rose to 9.52% from 7.4%, showing a cautiously optimistic sentiment toward Ether price.Institutional investor allocation to ETH. Source: Bybit


Institutional investors can significantly contribute to an asset’s price appreciation due to the high amount of capital they hold, which is why institutional crypto interest is considered a bullish sign for tokens.


Related:Ether ETF opens the floodgates for Solana ETFs and crypto products: AnalystWill Ether’s price double in the next 18 months?


Ether’s price could see a two-fold increase during the current bull cycle, meaning that ETH would be trading over the $6,800 mark by the end of 2025.


Thanks to the newfound interest in Ether ETFs, Ether’s price could double, according to Bybit’s Cheung, who said:“I have seen traders increasing their exposure to Ethereum recently. The anticipation of ETF approval has also driven interest in assets within the broader Ethereum ecosystem. I am optimistic about ETH’s long-term price, expecting it to double in the next 18 months, giving potential investors an excellent risk/reward ratio.”


Ether’s price is up 11.3% on the weekly chart, trading at $3,420 as of 12:25 pm UTC. The world’s second-largest cryptocurrency reversed its month-long downtrend on July 8, according to TradingView data.ETH/USDT, 3-month chart. Source: TradingView


However, Ether would need another $412 billion worth of investment to double its current market capitalization and reach the $6,800 mark. Ether is currently 30% down from its all-time high of above $4,800, reached in November 2021.


Related:Mt. Gox repayments will only cause Bitcoin sell pressure among ‘paper hands’ — AnalystEther may outperform Bitcoin in the long term


Despite all the investor anticipation, Ether ETFs will only be a “sidekick” to Bitcoin (BTC) ETFs in terms of inflows, according to Eric Balchunas, senior ETF analyst at Bloomberg.


This view is also echoed by Bybit’s Cheung, who expects Ether to amass around 30% of the record-breaking inflows of Bitcoin ETFs. He said:“Ether is less understood than BTC and is a younger asset, so it’s largely unknown how flows will stack up. In the short term, I would expect something like 30% of BTC flows.”


Yet in the long-term, the Ether ETF launch could provide more regulatory certainty around Ether, which could make it outperform Bitcoin’s price in the future, according to Cheung:“However, as people become more educated and the regulatory situation improves, then I expect Ether to one day outperform BTC because of its rich and varied use cases, especially if the ETFs can incorporate Ether’s native yield.”BTC and ETH, 1-year chart. Source: TradingView


During the past year, Bitcoin’s price rose over 111%, while Ether’s price increased over 77%, TradingView data shows.


Magazine:Ether ETFs on the move, Messi promotes memecoin, and more: Hodler’s Digest, July 7–13# Bitcoin# Ethereum# Investments# Adoption# Ether Price# Ethereum ETF# Bitcoin ETF# ETFAdd reaction

News Feed

Wall Street Journal Reporter Chastised Over Satoshi Nakamoto ‘Unmasking’ Editorial
Wall Street Journal Reporter Chastised Over Satoshi Nakamoto ‘Unmasking’ Editorial During the last week, mainstream media outlets have been publishing reports that say “
RFK Jr. drops out of presidential race, while Trump takes lead on Polymarket
Zoltan Vardai11 hours agoRFK Jr. drops out of presidential race, while Trump takes lead on PolymarketKennedy is set to address the nation from Arizona on Aug. 23 and could potentially reveal more support for Trump’s pr
Jesse Coghlan7 hours agoDEA gets duped: Agency loses $55K in address poisoning scamThe United States Drug Enforcement Administration has yet to find those responsible for the attack but has enlisted the help of the FBI.2
Polygon’s ZK-rollup Ethereum scaler Miden hits testnet
Martin Young2 hours agoPolygon’s ZK-rollup Ethereum scaler Miden hits testnetThe Ethereum layer-2 scaling solutions provider is going up against StarkWare’s tech stack Starknet.793 Total views1 Total sharesListen to
NFT Sales Continue to Decline, With ETH-Based NFTs Seeing a 20% Drop in the Past Week
NFT Sales Continue to Decline, With ETH-Based NFTs Seeing a 20% Drop in the Past Week Non-fungible token (NFT) sales over the last seven days are ending the year 13.97% lower than
Konami to Keep Selling NFTs to ‘Preserve Content’
Konami to Keep Selling NFTs to "Preserve Content" Konami, one of the leading Japan-based game developers, elaborated on its future policy regarding NFTs. In its latest financial re
Turner Wright6 hours agoEverything that’s happened with Celsius and Alex Mashinsky so farA look back at the rise and fall of Celsius, from the firm’s growth during the pandemic to the arrest of its former CEO and res
William Suberg46 minutes agoBTC price hits ‘Uptober’ up 5% — 5 things to know in Bitcoin this weekBTC price starts the celebrated month of “Uptober” with a trip past $28,000, but the question on everyone’s li
VC Roundup: Investors move into cross-chain, Bitcoin layer-2 and institutional tools
Ana Paula Pereira5 hours agoVC Roundup: Investors move into cross-chain, Bitcoin layer-2 and institutional toolsThis edition of Cointelegraph’s VC Roundup highlights Borderless Capital’s recent acquisition, along wit
GameFi-NFT, Monopoly Millionaire Game, Will Be Pre-Released on May 25
GameFi-NFT, Monopoly Millionaire Game, Will Be Pre-Released on May 25 press release PRESS RELEASE.The gaming ecosystem has been at the forefront of the NFT and other blockchain inno
Morgan Creek CEO Says FTX Co-Founder SBF Was a ‘Pawn’ Used to ‘Punish’ the Crypto Industry
Morgan Creek CEO Says FTX Co-Founder SBF Was a "Pawn" Used to "Punish" the Crypto Industry Following FTX’s collapse, many industry executives, influencers, luminaries, and p
Celestia on pace to surpass Ethereum in data storage — Research
Alex O’Donnell5 hours agoCelestia on pace to surpass Ethereum in data storage — ResearchCelestia has been steadily winning market share in data storage from Ethereum since May.1114 Total viewsListen to article 0:00An