Ethereum (ETH) lacks the “easy to understand” voice that would attract baby boomers
Ethereum (ETH) lacks the “easy-to-understand” tone that would attract baby boomers to Ethereum exchange-traded funds (ETFs), analysts say.
“Ethereum is still… “It doesn’t have an elevator pitch, despite years of trying.” May 23.
“Is there such a simple line for ether? If so, what is it? Bloomberg ETF analyst Eric Balchunas added, while noting that a potential obstacle to the success of Ethereum ETFs will be how these funds resonate with investors in the 60-80 age bracket. .
“One of the challenges for Ethereum ETFs in entering the world of the 60/40 boom is distilling their purpose/value into an easy-to-understand sound bite,” Balchunas said.
Balchunas reiterated that “Bitcoin is digital gold,” which is the simple selling point of Bitcoin (BTC). However, he suggested that Ethereum doesn’t have as simple a selling point as investment managers can easily offer to their baby boomer clients.
In a May 24 “Bankless” podcast episode, Matt Hogan, chief investment officer at Bitwise, suggested that explaining the difference between Bitcoin and Ethereum can often be confusing for newcomers to cryptocurrencies because they see them as different currencies “just like the dollar and Ethereum”. euro.”
Hogan said the simplest way to explain the difference is to use the analogy of different software companies using software in different ways. “SalesForce uses software one way, while Microsoft uses it another way,” he said.
Hogan also argued that each cryptoasset functions as both an asset and a blockchain, and that these blockchains can be improved in different ways, much like how software companies improve their software differently.
Related: Ethereum ETFs Launch Next Month “Entirely Possible” – Analyst
The two are commonly compared by saying that Bitcoin can be used to preserve value and as a safe haven, while Ethereum can be used to access decentralized financial services (DeFi).
Meanwhile, others in the cryptocurrency industry have different ideas on a simple offering to set Ethereum apart from the crowd.
“Ethereum is like digital oil. It is the gas that makes decentralized protocols work. “It’s productive and profitable,” said Adam Cochran, a partner at venture capital firm Cinneamhain Ventures.
The price of Ethereum jumped 19.56% over the past seven days after reports first emerged that the Securities and Exchange Commission was moving away from its hardline stance on approving ETFs.
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