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Today in Markets

ETH's ETF Energy Cools

Fidelity's ETF interest didn't interest prospective ETH buyers
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Nov 18, 2023 • 1 min read

📈 ETH Cools. After this month's BlackRock-led boom, ETH touched closer to $1900 on Saturday as it unwound the ETF bump of the past week-and-a-half. All of this, despite a new spot ETH ETF filing from Fidelity! Meanwhile, BTC largely stayed constant.

While ETH's middling performance relative to BTC has been the story of the past month, the trend has been much more apparent over the past year. ETH is up 59% year-over-year, while BTC is up nearly 120% over the same time period.

And while BTC often leads the bull market only for ETH to catch steam and surpass its growth rate, a wave of altcoin over-performance is causing ETH investor FOMO to deepen.

Nobody said high-conviction bets were easy, but as BTC/ETH climbs despite Ethereum scoring its own ETH ETF interest, Ether owners are certainly feeling a bit less jubilant this week.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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