@unclef
$ETH inflows have been disappointing since ETF trading began.
why? institutions view $ETH through a fundamental lens and see it as overvalued.
compared to companies with P/E ratios around 20-50, $ETH sits at 100, making it hard to justify buying.
even when compared to $BTC (like Silver to Gold), $ETH is overvalued, with ETHBTC needing to drop 20% to be in line.
so, for institutions, $ETH just isn't a buy right now.
credit: Monolith.vc
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