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What Does the Ethereum ETF Mean for Bitcoin Investors?

Grand News Network | August 20, 2024
What Does the Ethereum ETF Mean for Bitcoin Investors

The approval of the Ethereum ETF left the world in awe especially through the Securities and Exchange Commission (SEC). This came as a shock to me alongside many others (and most in the Bitcoin community) who had expected the SEC to disapprove the application for the Ethereum ETFs.

Ultimately, it comes down to a core economic question: In other words, is it a substitute or a complement to Bitcoin? Some argue that they are complementary: The US dollars that are put into Ethereum will bring in new US dollars into Bitcoin from other assets such as equities and bonds. However, I think that they are in fact substitutes for one another. There is a given amount of attention people pay to cryptocurrencies and if some of that is directed towards Ethereum, it is at the expense of the investment in Bitcoin.

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