The impact of spot Ethereum ETFs on Ether’s price once trading starts might challenge the old saying “first the worst, second the best,” suggests crypto analyst and educator Patrick Scott, also known as “Dynamo DeFi.”
The popular crypto personality predicts that Ether won’t follow in Bitcoin’s footsteps, after BTC almost doubled its price soon after the spot Bitcoin ETF launched in January.
“I’m not expecting the same sort of multiples immediately in a two-month period that we had with Bitcoin,” Scott tells Hall of Flame from his car in a parking lot, shortly before saying, “Hold on” because a police car has pulled up behind him.
Turns out they’re not after him, thank God.
Spot Ether ETFs lack the first-time excitement advantage
Scott continues by noting spot Bitcoin ETFs had the advantage of being the first crypto ETFs available to investors.
“Bitcoin was the first crypto, but also the first ETF. So people who had no crypto exposure suddenly could get crypto exposure by buying Bitcoin,” Scott says. He’s skeptical over whether those same investors are also going to be keen on Ethereum exposure.
“It’s what subset of those people are going to say, ‘now I’m gonna get extra crypto exposure by buying this other one,’” he says.
Who is Patrick Scott, Dynamo DeFi?
Scott has 77,000 followers on X — not on the same level as major influencers like Saylor and Buterin, but still enough to fill three Madison Square Gardens.
He’s best known for providing daily analysis on crypto projects, explaining market trends in an easy-to-understand tone, and even pointing out simple observations on the overall market sentiment.
(X/Patrick Scott)
Big pullback in Ether before launch could be a golden opportunity
He thinks the only way Ether might reach similar relative price highs as quickly as Bitcoin did after trading starts is if there’s a big dip before the…
..
