Lackluster Debut of Ether ETFs Prompts Advisor to Favor Bitcoin Over Ethereum

Day one trading of ETH futures ETFs accounted for just 0.2% of what BTC futures ETFs amassed in 2021.

This lack of institutional appetite for Ether ETFs caused Lunde to walk back on his previous advice of increasing ETH allocation.

Lunde explained the crypto market lacks short-term catalysts and will likely continue sideways.

Bitcoin has potential for ETF approval in 2023 and the halving event favoring accumulation.

Rising oil prices could cool crypto sentiment at the late stage of the rate hike cycle.