Odaily星球日报讯 加密货币衍生品交易员 Gordon Grant 表示，现货以太坊 ETF 对机构玩家的吸引力会减弱，直到可以进行质押，许多人可能会等待质押获批后再向这类基金分配资金。Gordon Grant 指出，在现货以太坊 ETF 启用盯盘之前，机构交易者将使用链上解决方案。（TheBlock）

分析师：机构投资者对现货以太坊ETF的兴趣因没有质押而减弱

Odaily Odaily News: Cryptocurrency derivatives trader Gordon Grant said that the appeal of spot Ethereum ETFs to institutional players will weaken until staking is possible, and many people may wait for staking to be approved before allocating funds to such funds. Gordon Grant pointed out that before spot Ethereum ETFs enable spot trading, institutional traders will use on-chain solutions. (TheBlock)

Analyst: Institutional investors’ interest in spot Ethereum ETFs weakens due to lack of collateral

Odaily Odaily News Glassnode analysts said that a major factor affecting the demand-side pressure of US spot ETFs is the use of spot purchase arbitrage strategies by institutional traders. As traders buy Bitcoin spot and immediately hedge by selling Bitcoin futures, this can alleviate the immediate upward pressure on spot prices. Glassnode analysts said: This spot arbitrage trading structure appears to be an important source of ETF demand. ETFs are used as a tool to obtain long spot exposure. At the same time, the net short position of Bitcoin in the Chicago Mercantile Exchange Group futures market is increasing. (Theblock)

Glassnode: Cash purchase arbitrage trading is affecting the buyer side pressure of US Bitcoin spot ETF

Original | Odaily Odaily
Author | Azuma
The collectively bullish institutions turned the clock back to last week, which was almost the period when institutions had the most consistent bullish expectations since the market entered the adjustment phase in March.
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On June 3, Bitfinex said in a report that Bitcoin’s decline since March may have been caused by long-term holders selling, but on-chain data showed that the trend had stagnated and investors were accumulating Bitcoin.
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On June 4, CryptoQuant pointed out in a report that 50% of the long-term Bitcoin supply...

Institutions collectively praised the bullish sentiment but were slapped in the face. How will the BTC market develop in the future?

Odaily Odaily News Bloomberg ETF analyst Eric Balchunas wrote on X: "Today, at the Proof of Talk inside the Louvre, I had an enlightening discussion with 21Shares co-founder Ophelia Snyder, digital asset analysts Matthew Sigel and Jason Xavier. Everyone agreed that tokenization is important, but it may not be a substitute for ETFs. Sigel predicts that the scale of US Bitcoin ETFs will exceed US$500 billion in 5 years, and Snyder said that the global scale may exceed this number. They all think that I may underestimate the demand for Ethereum ETFs. They plan to position it as a 'production technology stock' and 'ultimate application store', which is completely different from the promotional positioning of Bitcoin."