K33 Research: Ethereum ETFs Could Attract $3.1B by 2024, Outshine Bitcoin ETFs

Editing and additional information by Michael Mislos.

A recent report by crypto brokerage firm K33 Research estimates that Ethereum spot ETFs could outperform Bitcoin ETFs.

What’s the significance? Strong performance of Ethereum ETFs could attract significant inflows, boosting not only ETH and BTC but the entire crypto market.

The numbers. As per Decrypt:

• Five months after launch, U.S. Bitcoin ETFs amassed $13.9 billion.
• Globally, ETF firms hold over 1 million BTC, or more than 5% of its circulating supply.
• If ETH ETFs follow this trend, they could see at least $3.1 billion to $4.8 billion in flows by the end of 2024, around 1% of ETH’s total circulating supply.

Key Quote: 

“This estimate is based on the relative global ETH assets under management (AUM) market share compared to BTC of 28%.”

K33 Research

But Bloomberg ETF Analyst Eric Balchunas suggests that ETH ETFs might only achieve 10% of BTC ETF success, still a notable achievement.

Zoom out: In a presentation, GCash’ GCrypto Head, Luis Buenaventura, explained that the amount of inflows from BTC ETF greatly affected BTC’s performance since January.

• A positive inflow created a price increase while a negative inflow resulted a price decrease. 
• Since BTC and ETH are both the leaders of the market, given that they hold 50% and 16% of the total market cap, respectively, a good performance by the two assets is expected to influence a bearish trend in the crypto market as a whole. 

This article is published on BitPinas: Could Attract $3.1B by 2024, Outshine Bitcoin ETFs

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