Summary
- Eric Balchunas, Bloomberg ETF senior analyst, stated that the price rise and capital inflow into the Ethereum (ETH) ETF are eroding the market share of Bitcoin (BTC).
- The Bitcoin ETF accounts for 82% of the total assets under management (AUM) in virtual asset ETFs, down from 90% two months ago.
- Ethereum has increased its market share to 13%, but it is expected to be difficult to exceed 20% due to the emergence of various competing ETFs.
On the 29th (local time), Eric Balchunas, Bloomberg ETF senior analyst, announced on X (formerly Twitter), "The price increase and capital inflows into Ethereum (ETH) Exchange-Traded Fund (ETF) are eroding Bitcoin (BTC)'s market share."
He explained, "Bitcoin ETFs account for 82% of total assets under management (AUM) in virtual asset (cryptocurrency) ETFs, down from 90% just two months ago."
He added, "Ethereum has raised its market share to 13% and is still showing an upward trend, but I still don't think it will surpass 20%. This is because various competing ETFs will appear in the future."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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