Will Ethereum Continue to Rise Against Bitcoin? How Will ETH ETFs Affect the Price? CoinShares Analyst Explained!

Leading cryptocurrency Bitcoin It exceeded $72,000 again with the rise it experienced yesterday. Ethereum It performed better compared to BTC.

BTC decreased to $70,000 in the last 24 hours ETH The price continued its rise and climbed above the $3,600 level.

In this rise of Ethereum Ethereum co-founder Vitalik ButerinWhile ‘s speech at a festival held in Hong Kong was thought to be effective, CoinShares analyst Luke NolanETH evaluation came from .

Speaking to The Block, Luke Nolan stated that the tokenized fund launched by BlackRock, the world’s largest asset management company, on Ethereum last month is an important catalyst for ETH.

“BlackRock’s tokenized fund launched on Ethereum is a bullish factor that could be the driver of ETH in the long run.

This bodes bullish for Ethereum in the long term, as the choice of a public blockchain over private and alternative layer 1s actually proves that Ethereum’s security, liveness guarantees, and strong developer base are sufficient to maintain its smart position.”

Apart from this, the analyst pointed out that the ETH/BTC pair is currently at the lowest levels of several years. “Historically, the ETH/BTC pair has outperformed after reaching the lows, rising by as much as 20% in the weeks after reaching the lows.” said.

What Will Be the Impact on Price If Ethereum ETFs Are Rejected?

Finally the spotlight Ethereum Also touching on ETFs, Luke Nolan claimed that the US SEC is unlikely to approve a spot ETH ETF in May.

“We have seen essentially zero dialogue from the SEC for ETH ETFs and subsequent changes from issuers, which is definitely a bad sign.

Another bad sign is that the market is not really waiting for confirmation anymore either. For these reasons, in case of rejection for ETH ETFs, it is unlikely to have a negative impact on prices.”

*This is not investment advice.