ETH should not see as much spot ETH conversion due to the lack of an ETH staking feature in the ETF, analysts Gautam Chhugani and Mahika Sapra wrote, adding that the basis trade will likely find takers over time and this should contribute to healthy liquidity in the ETF market.
Despite the recent pullback in crypto markets, the 'structural adoption cycle remains intact,' the report added.
Wall Street giant JPMorgan said that spot ether ETFs are likely to see much lower demand than the bitcoin ETFs, noting that the world's largest cryptocurrency had the first-mover advantage
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