Binance: ETH price may be more sensitive to ETF inflows than BTC, or lead to more intense price fluctuations
2024-07-24 12:16:12
Binance said in a blog post that the approval of the spot ETH ETF is expected to significantly increase demand and push up the price of Ether, similar to the trend of Bitcoin ETFs. Due to the tightening of ETH supply on exchanges due to staking and smart contracts, the ETH price may be more sensitive to ETF inflows than BTC, which may lead to more violent price fluctuations. The SEC's restrictions on ETH staking held by ETFs may lead to cryptocurrency-savvy investors favoring direct staking, potentially dampening some demand for ETFs while catering to different investors who are subject to
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