IntoTheBlock: Ethereum spot ETF approval may have a greater substantive impact on ETH

IntoTheBlock said in its latest weekly newsletter: "The upcoming Ethereum spot ETF may have a more substantial impact on ETH as it will bring in a new wave of investors. Since ETH's supply is highly concentrated in the hands of long-term players, if its ETF inflows are comparable to Bitcoin's inflows, then this may have a huge impact." Ilan Solot, co-head of digital assets at Marex Solutions, said that pessimism may actually lead to Ethereum's outperformance. "Ubiquitous pessimism is a strong foundation for outperformance. The same is true for the "sell the news" strategy, where many expect Ethereum to emulate the historical performance of the Bitcoin ETF," Solot said in an email. "However, I am concerned that many inflow forecasts may be over-benchmarked by comparing them to Bitcoin ETF data (e.g. 'ETH will attract 20% of Bitcoin ETF inflows'). The prevalence of delta-neutral trades (carry trades) may confuse such comparisons and overestimate potential price impacts." (CoinDesk)