Analysts believe that Ethereum (ETH) is in need of a concise and easily understandable description that will appeal to the baby boomer generation and attract them to spot Ether exchange-traded funds (ETFs).
In a post on X on May 24, Glassnode lead analyst James Check, also known as “CheckMatey,” stated that despite years of attempts, Ethereum still lacks an elevator pitch. This comes after the United States Securities and Exchange Commission (SEC) approved eight spot Ether ETFs on May 23. Eric Balchunas, an ETF analyst at Bloomberg, added that finding a simple one-liner for Ether is crucial in order to resonate with investors in the 60-80 year old age range.
Balchunas reiterated that Bitcoin’s simple selling point as “digital gold” is what makes it appealing to investment managers and their clients. However, Ethereum lacks a similarly straightforward selling point that can be easily communicated to baby boomer investors.
During an episode of the Bankless podcast on May 24, Matt Hougan, the chief investment officer of Bitwise, suggested that explaining the difference between Bitcoin and Ethereum can be confusing for newcomers to the crypto space. He compared it to different software companies that use software in different ways, such as SalesForce and Microsoft. Hougan argued that each crypto asset serves as both an asset and a blockchain, and these blockchains can be optimized in various ways, similar to how software companies optimize their software differently.
Some individuals in the crypto industry have proposed alternative one-liner pitches to differentiate Ethereum. Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, described Ethereum as “digital oil” that powers decentralized protocols. He emphasized its productivity and ability to yield results.
Following reports that the SEC was reconsidering its stance on ETF approvals, Ethereum’s price surged by 19.56% in the past week. At the time of writing, Ethereum is trading at $3,753.
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