The post Why Is Altcoins Not Moving As Anticipated? Analytics Company CEO Explains Why Ethereum, In Particular, Isn’t Soaring appeared on BitcoinEthereumNews.com.

CoinShares CEO Jean-Marie Mognetti pointed to record inflows into U.S.-based Bitcoin ETFs as an indication of continued investor optimism, as the cryptocurrency market continues to gain momentum following President-elect Donald Trump’s victory. Altcoins Like Ethereum and Solana Will See Demand, Especially When They Gain a Full-Stake ETF in the US, According to CoinShares CEO In an interview, Mognetti highlighted the significant inflows that Bitcoin ETFs have seen since the beginning of the year, noting that the sector has witnessed 12 consecutive weeks of cumulative net inflows. “The last time we saw this kind of streak was in 2021,” Mognetti said, referring to the 15-week period of strong net inflows during that bull market. “But this time, we have Bitcoin ETFs in the U.S., which adds a new layer of accessibility for investors.” Bitcoin ETFs are an important tool for both institutional and individual investors, Mognetti said, allowing exposure to Bitcoin without directly owning the digital asset. “The ETF sector of the U.S. market is off to a tremendous start this year,” Mognetti said. The analyst added that hopes are high among market participants for the upcoming Trump administration, which many view as positive towards crypto. This bullish outlook is in line with broader sentiment from industry figures like MicroStrategy Chairman Michael Saylor, who recently came out in the spotlight with his extremely bullish $13 million Bitcoin price forecast by 2045. While Mognetti shares Saylor’s optimism, CoinShares is more cautious in its forecast. “We are not in the business of giving market price advice, but we believe Bitcoin has significant upside potential from current levels,” he said. However, Mognetti warned that the U.S. market lags behind in offering comprehensive Ethereum products, especially when compared to other regions. “The SEC’s approval of Ethereum products has been lacking,” he said, referring to the…

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Filed under: News - @ December 17, 2024 10:25 pm