Bitwise CEO: Seasonality, launch timing and other factors have affected the performance of Ethereum ETF, but everything is just beginning

Bitwise CEO Hunter Horsley posted on X saying, "Regarding the question 'Why hasn't the Ethereum ETF done better?', I would like to share some comments here. First of all, how do you judge success? The Ethereum ETFs from iShares, Fidelity and Bitwise are among the 25 fastest growing new ETFs this year. However, I do believe that there are three factors affecting the performance of the Ethereum ETF:
(1) Summer: For many investors, summer is a slow period with few new projects.
(2) Market: Bull markets always attract attention. Bitcoin ETP was launched when Bitcoin was rising, while Ethereum ETP was launched in a sideways market.
(3) After the launch of Bitcoin ETP: For many traditional investors, it has taken some time to incorporate Bitcoin into their portfolios after the launch of ETP and will take more time in future. The Ethereum ETP was launched before this issue had been resolved which made it difficult for people to shift their focus towards it.

Despite this, these three (Ethereum) ETPs are still among the fastest growing this year. The story of Ethereum's ETP is just beginning."