Ether Spot ETFs Could See Lower Demand Compared to Bitcoin Peers: Bernstein
Ether and other digital assets need a better regulatory regime and the narrative is expected to improve around the U.S. elections later this year, the report said.
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Bernstein
Ether and other digital assets need a better regulatory regime and the narrative is expected to improve around the U.S. elections later this year, the report said.
Spot bitcoin ETFs are expected to be approved by major wirehouses and large private bank platforms in the third and fourth quarters, the report said.
Michael Saylor’s firm is the only corporation that has developed institutional demand for bitcoin linked convertibles, the report said.
The latest price moves in bitcoin (BTC) and crypto markets in context for June 14, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The broker initiated coverage of the stock with an outperform rating and a $2,890 price target.
The spike in network fees was driven by speculative activity to mint new meme tokens following the launch of the Runes protocol, the report said.
The broker says it prefers outperform rated mining stocks Riot Platforms (RIOT) and CleanSpark (CLSK).
New capital will enter the market from fresh stablecoin supply, tokenization of traditional assets, native crypto infrastructure tokenization and ETFs, the report said.
Mining stocks have been resurgent this year due to improving sentiment from institutional ETF filings and potential revenue diversification into high-performance computing and AI, the report said.