Stating that Ethereum (ETH) ETFs are disappointing, K33 suggested switching to Bitcoin (BTC).
K33 Research senior analysts Anders Helseth and Vetle Lunde prepared a remarkable report. In this report, it was emphasized that it would be more logical for investors to switch from Ethereum to Bitcoin. K33 analysts had previously recommended Ethereum due to ETFs. However, analysts noted that ETFs were a disappointment and institutional appetite was not shifting towards Ethereum.
K33 analysts pointed to Bitcoin!
K33’s research and analysis team recommended Bitcoin (BTC) in their report due to the factors that are likely to occur in the coming period.
K33’s investment strategy was towards Ethereum. In this investment strategy, ETFs and institutions were presented as important benchmarks by which investors would show interest in ETFs. However, interest in Ethereum ETFs, which started recently, was very low. Ethereum ETFs fell short of expectations, trading with almost 100 times less volume than Bitcoin ETFs.
K33’s Anders Helseth and Vetle Lunde described the situation in Ethereum as disappointing and created a new investment strategy. This strategy involves switching from Ethereum to Bitcoin. It was emphasized that the halving that will take place in Bitcoin and the approval of Bitcoin spot ETFs may come to the fore.
As it is known, institutions such as BlackRock and Fidelity are waiting for approval from the SEC to launch the spot Bitcoin ETF. If trillion-dollar companies launch a spot Bitcoin ETF, there could be $200 to $300 billion in inflows into BTC annually. Additionally, Bitcoin will halve in April 2024.
