@zhaominjie
Morgan Stanley's January 2026 filing for a spot Ethereum ETF with staking rewards boosts institutional ETH demand uniquely, unlike BTC ETFs lacking yield.
This catalyzes disproportionate ETH inflows, likely pushing the ETH/BTC ratio higher (from current ~0.05-0.06 levels). Short-term volatility may spike on speculation; long-term, deeper liquidity could dampen fluctuations.
Staking impact: ETF-driven institutional staking increases total staked ETH (currently ~34%), spreading rewards thinner and pressuring yields lower (from ~3-4% toward 2-3% over time).
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