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- 🗒 Gate.io Suggested Topics Posting Event: #NFP Data Release#
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The Non-Farm Payroll (NFP) data is set to be released on May 2nd. As a key economic indicator, it often has a significant impact on market sentiment. How do you think this upcoming report will influence the crypto market’s direction? Are you bullish or bearish?
Post with the hashtag #NFP Data Release# to share your insights or analysis to share the $50 reward pool!
⏰ Event Time: April 30, 4:00 AM - May 1, 4:00 AM (UTC)
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Why Didn't Ethereum ETFs Become Like Bitcoin ETFs? What Can Save ETH? Bloomberg ETF Analyst Eric Balchunas Explained!
Crypto analyst Michael van de Poppe’s guest on the New Era Finance Podcast, Bloomberg ETF analyst Eric Balchunas made important statements regarding Ethereum (ETH).
Following the SEC's decision to postpone ETH ETF, Eric Balchunas evaluated the impact of adding staking to Ethereum ETFs.
Balchunas stated that the addition of staking alone will not affect the price of ETH, and that staking will not increase inflows into ETFs unless there is a more sustainable rise in ETH.
An analyst stating that the addition of staking will have a small effect on ETH ETF inflows said, "This will only help, it won't have a big effect."
However, Balchunas pointed out that one of the main reasons for the weak inflows since the launch of Ethereum ETFs in the U.S. in July is that ETH has not yet experienced a prolonged rise.
A Bloomberg analyst stated that for ETF inflows to recover, Ethereum needs a strong narrative backed by a solid and genuine rally lasting several months.
Comparing Ethereum to Bitcoin, Balchunas noted that the price quickly dropped after the launch of ETH ETFs and that it is harder to recover compared to Bitcoin ETFs.
Bloomberg ETF analyst James Seyffart, on the other hand, stated that the deadline for Ethereum ETFs to be approved for staking is the end of October. But he added that the possible interim dates before final approval or rejection are the end of May and the end of August.
*It is not investment advice
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