QCP Capital: Remain bullish on ETH, continued institutional interest is expected to help it move towards historical highs

Odaily News QCP Capital's latest report pointed out that the much-anticipated Ethereum spot ETF began trading last night, but the expected market heat failed to materialize. ETH volatility was sold off across the term structure, and the front-end ETH premium to BTC finally reversed, with BTC 1-week and 2-week options trading 1-3 points higher than ETH. Net inflows on the first day of trading were $107 million, while Bitcoin spot ETFs were $655 million, mainly due to an outflow of $484 million from ETHE. QCP said it remained optimistic about ETH's prospects. Bitcoin set a new all-time high two months after the launch of the ETF, providing a convincing precedent. Institutional interest is expected to continue, and ETH may gradually approach its all-time high.