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Bitcoin is more attractive to investors than Ethereum, apparently because of this

Liputan6.com, Jakarta – In a recent analysis by Glassnode, it was revealed Bitcoin (BTC) has gained a significant advantage over Ethereum (ETH) in attracting investor interest.

This difference is primarily influenced by the successful approval and launch of Bitcoin exchange-traded funds (ETFs), which have not yet been extended to Ethereum.

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Reporting from CoinmarketcapSaturday (18/5/2024) there are several other things that make Bitcoin more attractive to investors than Ethereum, the list is as follows:

Investor Dynamics and Market Movements

According to Glassnode, Bitcoin's all-time high on March 14 sparked a flurry of speculative activity, especially among short-term holders. This group's activities helped push the USD wealth held in recently transferred coins to close to USD 240 billion or the equivalent of IDR 3,848 trillion at its peak.

In contrast, Ethereum has struggled to surpass its all-time high in 2021, with a lack of new capital inflows as shown by the stagnant growth of ETH short-term holders' realized limits.

The Role of ETFs in Crypto Investments

The introduction of spot Bitcoin ETFs has played an important role in making BTC more accessible and attractive to investors, which is reflected in increased capital flows into Bitcoin compared to Ethereum.

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Ongoing discussions and potential approval of a similar ETF for Ethereum by the US Securities and Exchange Commission (SEC) are expected to provide a similar boost to ETH.

Markets remain on alert as the SEC decision regarding Ethereum ETFs is expected by the end of May. If this ETF gets approval, Ethereum will likely see a significant increase in investor interest and market capitalization, potentially narrowing the gap with Bitcoin.

In conclusion, although Bitcoin currently leads in market performance and investor interest, the landscape may change with new developments in Ethereum ETF applications. The coming weeks will be critical for determining Ethereum's market position relative to Bitcoin.

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Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.

Bitcoin is more attractive to investors than Ethereum, apparently because of this

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