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Will Ethereum ETF be a “distraction” for Bitcoin? Exec says…
Will Ethereum ETF be a “distraction” for Bitcoin? Exec says…

Written by Ishika Kumari

May 30, 2024

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Will ETH ETF lend a hand Bitcoin?

– Impending Ethereum ETF approval raises speculation on its impact on Bitcoin
– SEC’s approval of guideline 19b-4 forms for eight Ether ETFs led to declines in Bitcoin and other altcoins
– BlackRock’s progress towards an ETH ETF license in June shifts attention to Bitcoin’s price movement
– Bitcoin decreased by 0.57% after BlackRock’s update, while Ethereum fell by 2.70% in the past 24 hours
– Anthony Pompliano and Michael Saylor express similar views on the potential influence of an ETH ETF approval on Bitcoin
– Saylor believes ETH ETF approval would contribute to legitimizing the crypto asset class
– Despite his recent openness, Saylor has been a strong Bitcoin supporter and critic of altcoins.

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