Samson Mow, former Chief Strategy Officer at Blockstream and now CEO of Bitcoin adoption-focused company Jan3, has voiced strong criticism against Ethereum-based ETFs as the SEC‘s decision on spot Ethereum ETFs approaches. Known for his radical Bitcoin maximalism, Mow predicted in a recent tweet that Bitcoin-based ETFs will outperform their Ethereum counterparts.
Mow, an advocate for “$1 million Bitcoin,” urged Ethereum holders to consider selling their assets against Bitcoin, claiming it is the last opportunity to sell ETH above 0.05 BTC. He emphasized comparing the demand for both cryptocurrencies in various markets and highlighted the lack of staking rewards for Ethereum as a significant disadvantage.
In his tweet, Mow stated, “Last chance to sell ETH above 0.05 BTC,” and suggested that the potential approval of Ethereum ETFs could trigger one of the biggest “sell the news” events this year. He noted the absence of a large-scale company like MicroStrategy accumulating Ethereum, in contrast to Michael Saylor’s aggressive Bitcoin acquisitions.
Contrary to Mow’s stance, Anthony Pompliano, a well-known Bitcoiner and venture capitalist, believes the SEC’s potential approval of Ethereum ETFs could pave the way for broader acceptance of the entire cryptocurrency space in the U.S. He described it as “the last dam to be broken.”
Meanwhile, Bitcoin ETFs continue to attract significant inflows. BlackRock’s (NYSE:BLK) fund remains the leading ETF, receiving $92 million on Wednesday. On May 21, BlackRock’s IBIT experienced its largest inflow in the past 32 trading days, totaling $291 million.
