Will the market switch from Bitcoin to Ethereum?

It seems that Ethereum is slowly gaining ground against Bitcoin. We’ve known for a while that a Bitcoin ETF was in the air after BlackRock suddenly filed its filing a few months ago. This has caused the price of Bitcoin to skyrocket, but BlackRock is now also working on a spot Ethereum ETF and this seems to be drawing attention to the number two spot in the market.

In any case, the price of Ethereum has risen sharply due to the application of BlackRock, both in US dollars and in Bitcoin.

Ethereum and Bitcoin remain in charge

If you ask Bloomberg ETF expert James Seyffart, it’s currently Bitcoin and Ethereum you should bet on when it comes to crypto. “We are dealing with a rise in Bitcoin and Ethereum, and then the rest will follow. “Bitcoin and Ethereum are currently showing who’s boss,” he added.

However, there are still arguments in favor of altcoins as there are some small projects that are also doing very well at the moment. Take Solana, for example, which has posted huge gains in recent weeks; also compared to Bitcoin and Ethereum.

The problem with smaller coins is that they carry more risk.

This risk applies to a lesser extent to Bitcoin and Ethereum, for which the market now expects a spot ETF for both. If this actually happens, there could be a huge flow of capital into both currencies.

Low interest in Ethereum futures

If the launch of Ethereum futures ETFs in the United States is a harbinger of what to expect from spot ETFs, this will be a major setback for Ethereum. In the early days, nine Ethereum futures ETFs only raised $2 million in capital, which was a huge setback.

The Bitcoin Futures ETF broke almost all records on its first day.

This is why we can see a similar pattern with spot ETFs. That would be a win, especially for Bitcoin. But it could also be that the market has already seen the arrival of spot ETFs, which means there is simply less interest in Ethereum futures ETFs.