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This competition among ETFs is likely to drive fees lower, benefiting investors.
In addition, it approved Grayscale Ethereum Trust (ETHE) conversion to a spot ETF.
It also posted net inflows on its second trading day, showing continued investor interest, he added.
The size and scale of ETHE make it an efficient trading tool for risk allocation.
Nurps Sekinger argued that the funds fee efficiency could be appealing to cost-conscious investors.
This allows investors to keep more of their returns.
The trust has seen inflows of $65.5 million, highlighting investor interest in its cost-effective approach.
This demonstrates a commitment to supporting the Ethereum ecosystem.
It debuted with an impressive $1 billion in volume, said Sekinger.
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