Avalanche Creator’s Take: Ethereum ETFs Will Succeed Over Time

Spot Ethereum ETFs have performed worse than expected since their launch. According to a report from JP Morgan, spot ETH ETFs have not lived up to expectations compared to Bitcoin, with $500 million in outflows.

It’s Only a Matter of Time!

Although ETH ETFs have underperformed, John Wu, the president and CEO of Avalanche (AVAX) developer Ava Labs, remains optimistic about the future of Ethereum (ETH) and its ETFs. In an interview with Bloomberg TV, Wu expressed confidence that Ethereum ETFs will eventually succeed.

Wu noted that due to the competitive nature of the decentralized finance (DeFi) sector, Ethereum ETFs will find success over time. He pointed out that Bitcoin and Ethereum aren’t true rivals; Bitcoin’s main competitor is gold.

“I don’t think anyone expected Ethereum ETFs to be as successful as Bitcoin ETFs right away,” Wu said. “In reality, Bitcoin only has one competitor, and that’s gold. The essence of Ethereum is about creating utility and use cases. Ethereum has many competitors in the altcoin space, like Avalanche, Solana, and others. Over time, Ethereum ETFs will do well because ETH thrives in a competitive environment.”

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