Bitwise Manager Compared Bitcoin and Ethereum, Explained His Expectations!

In the USA spot Bitcoin ETFAfter their spot Ethereum ETF‘s finally opened for business today.

While Bitcoin, which has a successful ETF process, is ahead of Ethereum, ETH ETFs BTC It is estimated that there will be significant entries, although not as many.

At this point, analysts think that ETFs will increase the ETH price, although not in the early days, but later on. Matt Hougan, a Bitwise executive He also stated that he thought the Ethereum price would rise above $5,000 within a few months after the ETFs were opened for trading.

Matt Hougan made a new post from his X account shortly before the ETFs opened for trading.

Matt Hougan, Ethereum He noted that pre-session trading in his ETFs was much less compared to the pre-session trading on the first day of his Bitcoin ETFs.

ETH Hougan stated that although the transactions were low compared to BTC, it was nice to see the buying and selling activities of the largest market players and said that investors deserve ETFs.

Hougan stated that he did not agree with the rumors that Bitcoin ETF investors will switch to ETH along with ETH ETFs or that Bitcoin investors will not buy ETFs. “People will add ETH to their BTC. They will not substitute one for the other.” said.

“Pre-market trading of ETH ETFs is significantly lighter than pre-market trading of BTC ETPs on launch day. Still, it is good to see trading activity from the largest players expected in pre-market.

“ETFs are great. Their great promise is to allow ordinary investors to access the market on the same terms as the largest institutional investors in the world. That’s what we all deserve. Today, we see that in play once again.”

Pre-market trading of ETH ETPs is significantly lighter than pre-market trading of BTC ETPs on launch day. Still, good to see trading activity in the biggest expected players pre-market.

— Matt Hougan (@Matt_Hougan) July 23, 2024

*This is not investment advice.