What are the differences in viewpoints between Bernstein and JPMorgan on the demand for Ethereum spot ETF which is far lower than Bitcoin

According to a report cited by Coindesk, the demand for Ethereum spot ETF is expected to be far lower than that of Bitcoin spot ETF. This is consistent with the previous view of JPMorgan, emphasizing that ETH does not have the demand catalyst of Bitcoin halving, and the value proposition of Bitcoin investors is different from that of ETH and cannot be compared.