Ethereum is expected to experience more significant price fluctuations compared to Bitcoin, with the monthly volatility premium for the asset in “long-term” options rising from 4% to 8%, according to QCP Capital.
Analysts favour accumulating the second-largest cryptocurrency by market capitalisation, citing the attractiveness of its prices given the rise in implied volatility.
Experts noted Ethereum’s greater resilience compared to Bitcoin amid news of the US government transferring 30,000 BTC to an unknown wallet.
“Following [Republican presidential candidate Donald] Trump’s speech, the ETH/BTC rate rose by 5%, despite the fourth consecutive day of outflows from ETF,” the specialists noted.
They believe that the exhaustion of outflows from Grayscale’s ETHE will increase net inflows into products and create conditions for a significant price surge of the asset.
ETH-ETF
On July 30, investors added $33.7 million to spot Ethereum-ETFs. The negative trend was interrupted on the fifth trading day, according to SoSoValue.
Net outflows since the approval of the products have decreased to $406 million.
Grayscale’s ETHE clients continued to reduce their positions: on July 30, they withdrew $120.3 million from the instrument, bringing the figure to $1.84 billion.
However, inflows into other products were higher. ETHA from BlackRock received $118 million, FETH from Fidelity — $16.4 million, ETH from Grayscale (with a 0.15% fee compared to 2% in ETHE) — $12.4 million. Investors directed $3.5 million into ETHW from Bitwise and $3.7 million into EZET from Franklin Templeton.
Earlier, BlackRock expressed doubts about expanding the list of registered SEC exchange-traded funds based on altcoins.
On July 8, Cboe BZX filed form 19b-4 for 21Shares Core Solana ETF and VanEck Solana Trust. According to the rules, the agency has 240 days to decide whether to approve the rule changes necessary for listing VanEck and 21Shares products on the platform.