Odaily News Bloomberg analyst Balchunas said that compared with the inflow of US spot Bitcoin ETFs, the launch of the spot Ethereum ETF may be disappointing, and the spot Ethereum ETF is only a "supporting role" of the spot Bitcoin ETF. Balchunas explained that Bitcoin's value proposition as "digital gold" is relatively easy to understand, while Ethereum and its broader DeFi ecosystem are more similar to technology stocks, which makes it more difficult for traditional retail investors to understand.