The exchange, citing various data such as options skewness, portfolio adjustments and whale stocks, noted that the launch of the ETF is likely to boost the long-term price of Ethereum.
And as such investors are selling bitcoin in their possession, to acquire Ethereum and I begin to doubt the future of bitcoin!
You must ask yourself that what did you know about history of Ethereum Spot ETF applications and approvals. Bitcoin succeeded first to have Bitcoin Spot ETFs in January 2024 and months later, Ethereum took advantage of it, to have Ethereum Spot ETFs.
I can say, without fear that I am wrong, that there will be no chance for Ethereum Spot ETFs if Bitcoin does not have Bitcoin Spot ETFs. In future, if any milestone is made in cryptocurrency market, it will again be from Bitcoin, then Ethereum or other altcoins will follow.
So if you doubt about future of Bitcoin, you have more reasons to fear about future of Ethereum.