Institutional crypto market data provider Kaiko has projected Ethereum to outperform Bitcoin (BTC) after the launch of spot ETFs in the United States. The market anticipates the launch of spot Ethereum products with bulls projecting new market highs amid institutional inflows recorded pre-launch. ETH is down from the approvals of 19b-4 for several issues by the Securities and Exchange Commission (SEC).
Ethereum Growth to Surpass Bitcoin
A recent report from Kaiko opines that Ethereum ETFs may push the assets above Bitcoin. The firm cited the Ether-Bitcoin price ratio amid recent fluctuations due to macro and industry factors. The price ratio of the asset relative to Bitcoin stands at 0.05 from 0.045 after the approval of 19b-4 by the SEC. A ratio shows the value of Ethereum is getting bigger than the market leader.
“The ETH to BTC, which measures the relative performance of the two assets, remains elevated around 0.05. This is significantly higher than pre-approval levels of nearly 0.045. A stronger ratio suggests ETH could continue to outperform relative to BTC following ETF launches.”
In the last two months, ETH price has plummeted 20% initial frenzy with the SEC approval. While a pullback is linked to macro factors, spit Ethereum ETFs are poised to draw in institutional flows to the market. Traditional investors have become attracted to the altcoin leader because of its smart contract functionality and the number of decentralized applications (
DApps) in the ecosystem. Last year. Wealth managers picked the asset with the most growth trajectory.
Market Awaits Spot ETF
This year, spot crypto ETFs have dominated market spaces with billions pouring in from investors. The approval of spot Bitcoin ETFs on Jan 11 opened the gates for renewed market optimism on the heels of a new window for institutional investments. The successes of Bitcoin products drew investors to Ethereum as crypto prices jumped to new highs. The trading of ETH products expected this summer and related optimism led to issuers filing for Solana ETFs.
Also Read: Coinbase v SEC: Coinbase Refines Subpoena For SEC Chair Gensler
This news is republished from another source.
