Tuesday's debut of exchange-traded funds that hold ether is widely seen as a significant event for the crypto industry, although it may not see the success or fanfare that bitcoin ETFs did earlier this year.
The ether ETFs come about six months after the launch of bitcoin ETFs , which saw some of the most successful debuts in the industry's history.
And so the question is how much impact on price is really going to have?"
Mike Novogratz, CEO of Galaxy Digital, whose Invesco Galaxy Ethereum ETF (QETH) began trading Tuesday, agreed ether ETF flows could be small compared to bitcoin funds'.
"We think it'll be about 20% as many flows [that] will go into the ether ETF in the first six months that went into bitcoin [ETFs]," he said in a separate "Squawk Box" interview.
Persons:
Anthony Pompliano, CNBC's, We've, Pompliano, Mike Novogratz, —, Jesse Pound
Organizations:
Professional Capital Management, Galaxy Digital, Ethereum