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The launch of spot Ether exchange-traded funds (ETFs) could see the cryptocurrency outperform Bitcoin in the weeks after they go live in the United States, say K33 Research analysts.
 is set to face sell pressure as $8.5 billion worth is returned to creditors of collapsed exchange Mt. Gox starting this week, K33 analysts Vetle Lunde and David Zimmerman said in a July 2 report.

Ether has underperformed relative to Bitcoin for over a year, with BTC posting market-leading gains bolstered by over $14 billion in flows to its spot ETFs in 2024.

Lunde and Zimmerman said it’s reasonable to expect the price of ETH to “stumble immediately following the launch of the ETFs” but noted that — much like what later happened with Bitcoin — inflows to the spot funds would likely bolster ETH’s price.

“ETFs are a solid catalyst for relative ETH strength as the summer progresses and flows accumulate, and I firmly view current ETH/BTC prices as a bargain for the patient trader,” Lunde wrote.