Spot Ether ETFs came during a weak market and could tempt investors to diversify, putting Bitcoin’s price at risk, says Capriole Investments founder Charles Edwards.
A Bitcoin analyst thinks spot Ethereum exchange-traded funds (ETFs) may have launched too early and could pose a risk to Bitcoin’s price if no new capital comes into the market.
“It would have been better to only have the BTC ETF in 2024,” Capriole Investments founder Charles Edwards told Cointelegraph. He argues that the new Ether (ETH) ETF will only distract investors who have been invested in Bitcoin (BTC).
“Current BTC ETF holders at the institutional level likely think they should diversify a little and buy the ETF ETF. Without new flows into the whole market, this creates sell pressure on Bitcoin,” Edwards argued.
