Peter Schiff: It is expected that funds will shift from Bitcoin ETF to Ethereum ETF after the US SEC approval

Economist and gold enthusiast Peter Schiff has warned that the approval of a spot Ethereum ETF by the US Securities and Exchange Commission (SEC) could have a negative impact on spot Bitcoin ETFs and Bitcoin. Schiff explained that Bitcoin has gained new strength from rumors of the approval of an Ethereum ETF. However, funds for purchasing the new Ethereum ETF are likely to come from existing Bitcoin ETFs. Investors who decide how to allocate their cryptocurrency investments will not increase their allocation to Ether.