Peter Schiff: After the expected approval from the U.S. SEC, funds will shift from Bitcoin ETF to Ethereum ETF

Media reports, economist and gold enthusiast Peter Schiff warns that the U.S. Securities and Exchange Commission (SEC) approval of a spot Ethereum ETF could negatively impact the spot Bitcoin ETF and Bitcoin. Schiff explains that Bitcoin has gained new strength from rumors that an Ethereum ETF might be approved. However, funds for purchasing the new Ethereum ETF are likely to come from existing Bitcoin ETFs. Investors deciding on cryptocurrency allocation will not increase their purchase of Ether coins.