Peter Schiff: Expected to shift funds from Bitcoin ETFs to Ethereum ETFs after SEC approval
2024-05-21 23:53:07
Peter Schiff, an economist and gold enthusiast, has warned that the approval of a spot Ethereum ETF by the Securities Exchange Commission (SEC) could have a negative impact on the spot Bitcoin ETF and Bitcoin. Schiff explained that Bitcoin has gained new strength from rumors that an Ethereum ETF may be approved. However, the funds to buy a new Ethereum ETF are likely to come from an existing Bitcoin ETF. Investors who decide to allocate cryptocurrency will not increase the allocation to buy Ethereum.
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