{"id":13816,"date":"2024-05-26T15:33:11","date_gmt":"2024-05-26T12:33:11","guid":{"rendered":"https:\/\/forklog.com\/en\/michael-saylor-highlights-ethereum-etfs-advantage-for-bitcoin\/"},"modified":"2024-05-26T15:33:11","modified_gmt":"2024-05-26T12:33:11","slug":"michael-saylor-highlights-ethereum-etfs-advantage-for-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/michael-saylor-highlights-ethereum-etfs-advantage-for-bitcoin\/","title":{"rendered":"Michael Saylor Highlights Ethereum-ETF&#8217;s Advantage for Bitcoin"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Michael Saylor described the ETH-ETF as &#8220;another line of defense for Bitcoin&#8221; and noted &#8220;accelerated institutional adoption&#8221; thanks to the instrument.<\/li>\n<li>Bloomberg analysts predicted demand for ETH-ETF at 15-25% of exchange-traded funds based on the first cryptocurrency.<\/li>\n<li>Experts from TD Cowen suggested the emergence of an ETF on a &#8220;basket of crypto tokens&#8221; within a year.<\/li>\n<\/ul>\n<\/div>\n<p>The approval of <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> spot Ethereum-ETFs creates &#8220;another line of defense for Bitcoin,&#8221; according to MicroStrategy founder Michael Saylor in Peter McCormack&#8217;s podcast What Bitcoin Did.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Bitcoin is Forever Money with Michael Saylor\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/lwmyaxpJwoc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;Is this good for Bitcoin? Yes, I think it&#8217;s good for Bitcoin, [&#8230;] because politically we are much stronger with the support of the entire crypto industry,&#8221; Saylor explained.<\/cite><\/p><\/blockquote>\n<p>According to him, the launch of spot Ethereum-ETFs &#8220;will accelerate institutional adoption,&#8221; as previously cautious investors will now recognize cryptocurrencies as a legitimate asset class.<\/p>\n<p>The MicroStrategy founder noted that they will allocate capital among various digital currencies, but Bitcoin will still receive the majority as the &#8220;leader.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;I think major investors will say, [&#8230;] maybe we&#8217;ll allocate 5% or 10% to the crypto asset class, but Bitcoin will make up 60% or 70% of that,&#8221; Saylor emphasized.<\/cite><\/p><\/blockquote>\n<h2 class=\"wp-block-heading\">Analysts Expect Modest Demand for ETH-ETF<\/h2>\n<p>Bloomberg analyst James Seyffart predicted demand for ETH-ETF at 20-25% of spot exchange-traded funds based on the first cryptocurrency, as reported by <a href=\"https:\/\/cryptoslate.com\/spot-eth-etfs-could-see-25-of-the-demand-of-btc-counterpart-bloomberg-analysts\/\">CryptoSlate<\/a>.<\/p>\n<p>The forecast is based on the Ethereum market being about 30% of Bitcoin. Additionally, investors have lost the option of staking and access to on-chain capabilities of the second-largest cryptocurrency by market capitalization.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;The gap between Ethereum-ETF and Ethereum itself is slightly wider than between Bitcoin and Bitcoin-ETF,&#8221; the analyst noted.<\/cite><\/p><\/blockquote>\n<p>According to Seyffart, his colleague Eric Balchunas estimated potential demand for ETH-ETF even lower\u2014at 15-20% of a similar Bitcoin-based instrument.<\/p>\n<h2 class=\"wp-block-heading\">Experts Predict ETF Based on &#8220;Basket of Crypto Tokens&#8221;<\/h2>\n<p>Analysts from investment bank TD Cowen called the SEC&#8217;s decision on ETH-ETF &#8220;inevitable&#8221; and predicted exchange-traded funds based on a &#8220;basket of crypto tokens&#8221; within a year, as reported by <a href=\"https:\/\/www.theblock.co\/post\/296769\/td-cowen-says-ethereum-etfs-clear-the-way-for-more-crypto-funds\">The Block<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;This is happening about six months faster than we expected, but this decision was also inevitable since the SEC approved cryptocurrency futures ETFs,&#8221; wrote researcher Jaret Seiberg.<\/cite><\/p><\/blockquote>\n<p>TD Cowen specialists believe that the SEC will maintain a Democratic majority until 2026 and continue to oppose crypto companies trading tokens that the Commission considers unregistered securities.<\/p>\n<p>In May, the SEC approved 19b-4 applications from issuers of spot exchange-traded funds based on Ethereum. Trading will commence once the agency signs the registration statements on Form S-1.<\/p>\n<p>Standard Chartered&#8217;s head of research, Geoffrey Kendrick, suggested a new phase for exchange-traded funds in 2025. In his view, SOL and XRP are next in line.<\/p>\n<p>Matrixport co-founder Daniel Yan also named Solana as a new contender for launching exchange-traded funds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Saylor described the ETH-ETF as &#8220;another line of defense for Bitcoin&#8221; and noted &#8220;accelerated institutional adoption&#8221; thanks to the instrument. Bloomberg analysts predicted demand for ETH-ETF at 15-25% of exchange-traded funds based on the first cryptocurrency. Experts from TD Cowen suggested the emergence of an ETF on a &#8220;basket of crypto tokens&#8221; within a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,46,1208,1150,1138],"class_list":["post-13816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-ethereum","tag-michael-saylor","tag-news-plus","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=13816"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/13815"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=13816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=13816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=13816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}