Why Bitcoin, Ethereum Could Become A 'Trump Trade' Later This Year: Bernstein
Portfolio Pulse from Murtuza Merchant
Bernstein analysts suggest that if election sentiment shifts more Republican, crypto could become a primary 'Trump trade.' They highlighted recent outflows from Bitcoin ETFs and concerns over the upcoming Ethereum ETF launch. Bitcoin ETFs have seen substantial success but are currently experiencing outflows. Ethereum ETFs are expected to have a limited initial impact. The analysts see potential for crypto under a Republican presidency and view current market weakness as an opportunity.
June 24, 2024 | 4:38 pm
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Bitcoin ETFs have seen substantial success but are currently experiencing significant outflows. Analysts suggest that a shift in election sentiment towards Republicans could boost Bitcoin's appeal.
Bitcoin ETFs have experienced a six-day streak of net daily outflows, totaling nearly $1 billion. However, analysts believe that a shift in election sentiment towards Republicans could make Bitcoin a primary 'Trump trade,' potentially boosting its appeal and demand.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The upcoming launch of spot Ethereum ETFs is expected to have a limited initial impact. Analysts see potential for Ethereum as a tokenization platform, which could be bolstered by a favorable regulatory regime under a Republican presidency.
Analysts predict that the initial impact of spot Ethereum ETFs will be limited due to the absence of a staking feature. However, they see potential for Ethereum as a tokenization platform for stablecoin payments and real-world assets, which could be bolstered by improved regulatory clarity under a Republican presidency.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100