Expert Urges: Dump Your Ethereum (ETH) Now! Act Fast 📉

Should You Cash Out Your Ethereum Holdings?

Samson Mow, CEO of Jan3, has voiced skepticism about the potential of Ethereum-based ETFs compared to Bitcoin, arguing that they may underperform Bitcoin ETFs. Mow suggests that now might be the last chance for Ethereum holders to sell their holdings at a favorable price relative to Bitcoin.

Factors Behind Mow’s Call

Mow highlights the lack of staking rewards and lower demand for Ethereum in various markets as reasons for his stance. He believes that selling Ethereum above 0.05 BTC could be beneficial before these funds are approved. Many echoed Mow’s sentiments, indicating a potential major sell-off event for Ethereum.

‘VeteranHODL’ suggested that Ethereum ETFs could become the biggest sell-off event of the year.
‘Satu Madu’ speculated that these ETFs might divert funds from Bitcoin ETFs, which Mow dismissed, citing lack of significant institutional Ethereum accumulation.

Ethereum Market Performance

Despite the looming ETF approval decision, Ethereum has seen a strong market performance with a nearly 30% increase over the past week and a 2.9% rise in the last 24 hours alone, reaching $3,792.

Insights Into Bitcoin Spot ETFs

Meanwhile, Bitcoin spot ETFs have witnessed significant investor interest, with net inflows reaching a record $154 million on May 22. Among them, BlackRock’s IBIT and Fidelity’s FBTC showed strong performance, while Grayscale’s GBTC experienced a net outflow, indicating mixed investor sentiment in the sector.

Bitcoin spot ETFs’ total net asset value stands at $59.20 billion, with a cumulative net inflow of $13.33 billion, reflecting growing confidence in Bitcoin through these investment vehicles.

Hot Take: Is It Time to Sell Your Ethereum?

Considering the potential underperformance of Ethereum-based ETFs compared to Bitcoin, now might be the optimal time for Ethereum holders to consider selling their holdings. Mow’s skepticism and market analysis suggest that selling Ethereum above 0.05 BTC could be a wise decision before these funds receive approval.