As the cryptocurrency community eagerly awaits the US Securities and Exchange Commission's (SEC) decision on spot Ethereum ETFs, a prominent Bitcoin advocate, Samson Mow, CEO of Jan3, has sounded a warning bell for Ethereum holders. Mow, a well-known figure in the Bitcoin space, has expressed skepticism about the potential of Ethereum-based ETFs, predicting that they will underperform compared to Bitcoin ETFs. This warning comes at a time when Ethereum's market performance has been strong, with a nearly 30% increase over the past week and a 2.9% rise in the last 24 hours, bringing its price to $3,792.

Mow's warning is based on his analysis of the demand for Ethereum in various markets and the lack of staking rewards. He believes that this period may be the last opportunity for Ethereum holders to sell their holdings at a favorable price relative to Bitcoin. "This is the last chance to sell ETH above 0.05 BTC," Mow emphasized. His sentiments were echoed by many in the comments section, with one user, 'VeteranHODL,' suggesting that Ethereum ETFs might become the "biggest sell the news event this year." Mow agreed, stating, "Many."

However, not everyone shares Mow's bearish outlook on Ethereum. Some, like 'Satu Madu,' speculated that these ETFs could divert funds from Bitcoin ETFs. But Mow dismissed this theory, citing the lack of significant Ethereum accumulation by major institutional investors like MicroStrategy. "Doubt it. Show me a $MSTR accumulating Ethereum seriously," Mow tweeted.

On the other side of the crypto ETF spectrum, Bitcoin spot ETFs have seen significant inflows, indicating strong investor interest. According to SoSoValue data, the net inflow reached a record $154 million on May 22, marking the eighth consecutive net inflow. Among the various Bitcoin spot ETFs, BlackRock's IBIT saw the highest net inflow for the day at $91.95 million, bringing its total to $16.08 billion. Fidelity's FBTC also showed strong performance with a daily net inflow of $74.57 million, culminating in $8.65 billion.

In contrast, Grayscale's GBTC experienced a net outflow of $16.09 million, contributing to its total historical net outflow of $17.63 billion, indicating a divergent investor sentiment within the sector. Bitcoin spot ETFs' total net asset value has reached $59.20 billion, with a net asset ratio of 4.33%. The cumulative net inflow now stands at $13.33 billion, reflecting the growing confidence and sustained interest in Bitcoin through these investment vehicles.

Mow's warning to Ethereum holders comes at a time when the cryptocurrency market is experiencing a surge in interest in Bitcoin ETFs. The approval of these funds is seen as a bullish signal for the market, and many are predicting a significant increase in the price of Bitcoin. However, Mow's warning serves as a reminder that the cryptocurrency market can be unpredictable, and investors should always exercise caution. Whether or not Ethereum holders will heed Mow's warning remains to be seen, but one thing is certain - the cryptocurrency market will continue to be shaped by the actions of investors and the decisions of regulatory bodies like the SEC.