Samson Mow, former Blockstream CSO and now CEO of Bitcoin adoption-focused company Jan3, has issued a stark warning to Ethereum holders, suggesting that this is their last opportunity to exchange Ethereum (ETH) for Bitcoin (BTC) at a favorable price. Mow, a staunch Bitcoin maximalist known for his advocacy of Bitcoin reaching $1 million, has expressed strong skepticism about the potential approval of Ethereum-based ETFs by the SEC.

As the deadline for the SEC's decision on spot Ethereum ETFs approaches, Mow has been vocal in his criticism of Ethereum-based ETFs. In a recent tweet, he asserted that these funds, even if approved, would significantly underperform compared to Bitcoin ETFs. He suggested that now is the optimal time for Ethereum holders to sell their ETH, predicting that ETH will not surpass 0.05 BTC in value again.

Mow argued that the demand for Bitcoin outstrips that for Ethereum across various markets and noted that Ethereum does not offer staking rewards, further diminishing its appeal. He characterized the potential approval of Ethereum ETFs as a bearish event, likely to trigger a major "sell the news" reaction in the market.

In the comments to his tweet, Mow highlighted the absence of major institutional buyers for Ethereum, unlike Bitcoin, which has seen substantial acquisitions from companies like MicroStrategy. He contrasted his view with that of other prominent figures in the crypto space, such as VC investor Anthony Pompliano, who believes that the approval of Ethereum ETFs could pave the way for broader acceptance of the entire cryptocurrency market in the U.S.

Meanwhile, analytics account @spotonchain reported significant inflows into spot Bitcoin ETFs. On May 22, these funds saw $154 million in net inflows, marking the eighth consecutive day of positive flows, a trend not seen since mid-March. BlackRock's Bitcoin ETF, IBIT, has been a standout performer, attracting $92 million on Wednesday and $291 million on May 21, the highest inflow in 32 trading days.

Mow's stark outlook contrasts with the optimistic views of some market participants, underscoring the ongoing debate within the crypto community about the relative merits of Bitcoin and Ethereum and the potential impact of regulatory developments on their future prospects.